Which end to cut ugh!!

drill a small hole in the thermostat edge, and when it is open the coolant is flowing enough so the lower hose will not get sucked into a problem
I usually do just that. Some t-stats come that way out of the box. I believe the reason for that is to bleed off air which can become trapped in the upper engine block and heads, especially after coolant system draining and refilling for cooling system service.
But I think the lower rad hose collapses at cruising speeds, when the rad does not flow fast enough to keep up with the water pump. I don't think that an 1/8" hole in the edge of the t-state is going to prevent that from happening.