Will this work?

Your are correct however my distributer is a factory Mopar electronic pick up not a Pertronix I just picked that diagram because of how the wiring looked
The short answer is it probably will not work. A distributor with magnetic pickup is connectected to the purple and green wires on most analog MSD's.
Exactly which MSD unit do you own?
Are you using all or any of the truck's 1956 wiring?