Post a photo of the dizzy guts, maybe you can fit a missing tooth disk to it and rewire the coil to be directly ECU driven rather than fired by the unit during fail safe operation?
Yes, that is very much possible. I will have to do much research and get back to you. right now the distributor internal TFI module sends pulses ( at the right time and the right "dwell" to the coil". But later version distributors offloaded the TFI module (the same engine's 1996 version) inside the engine bay.
Again I have to research much much more, but if an upgraded trigger wheel inside the distributor sent signals to new ECU, and then the new ecu sent (when to fire the spark plug) signal to the 1996 offloaded TFI module then the (1996 offloaded TFI module) should be able to send sparks to the distributor to the exact cylinder.
after some research someone else was able to attach a trigger wheel to the external crankshaft pulley in an inline ford 6. his is a smaller block though http://fordsix.com/forum/viewtopic.php?f=7&t=67718
. This link is to a forum specifically for ford inline 6. I should save myself some research and ask there directly. all of what I am doing is also very important for them, because they have the same engine. I will also throw a few good lines in for DIYEFI