I'm thinking I put too small a cam in my 360 Magnum...

Yes balloon converter , as I understand it, the engine will only use what needs with large CFM, to a point, the dual quad 383/343 dual set up were 500 CFM, I'm only 23 cid off the 383 cid, that, plus I have better heads and headers

340 six pack 1350 cfm not possible to use all of it (yes, under extreme circumstances, possibly)
I wish you luck my friend. I can't say I would purposefully build a nitrous combo with stock cast pistons. And if they weren't specifically gapped for nitrous, you could easily butt the rings and pop the top right off of them with 200. Be really careful with your timing, and read plugs every hit