MagnumMPI swap - crank pickup fix?

I was talking it over with my friend and we wonder if you could machine notches in this one for the EFI tone. Haven't seen one.

I guess Red at McLeod gave up on building a 130T flywheel with the tone ring, so it doesn't seem like a good bet. Sounded like it was a problem with having enough room in between the clutch and the crank (or something like that).