What If Build Ideas...for Land Speed Racing

The Big Red Camaro with it's 850hp version back in the day ran a top speed of 222 mph and average of 198 mph at the Silver State Challenge.

I'd build the safety to be able to run 200+ mph, but engine wise run what you got see what it does and like you said work out the bugs and go from there, can always go up in steps like 25 mph better than previous year.

I wouldn't worry about the 200 mph engine for now just focus on what you got and the First speed limit hurdle you have to pass to be able to run the next level. And then plan from there, you'll have a better idea where you need to go.
Big Red did run 222MPH, but had an advantage at the Silver State called ashphalt.
You are correct in recommending to build for 200MPH+. For licensing you run on the 2 mile track and they give you MPH steps to go to. Achieve the first step without incident and move to the next. On the short course I believe the speed limit is 175MPH. Do that safely and you get to move to the long course. Tech guys will fill a person in.