electric fuel pump safety

A good high pressure electric pump with a return system will always be able to supply more fuel than a manual pump.

The idea of running an oil pressure switch to shut off the pump if you loose oil pressure sounds like a good idea, but it won't protect the engine from damage if you loose oil pressure since the engine will still run till the fuel in the bowls is gone.

I would run the oil pressure switch though your ignition. Then if you loose oil pressure, the engine will shut off instantly. You could have a hidden switch under the dash to bypass it for start up, this would also work for theft protection. MSD boxes actually have a wire for ignition shut off.