I don't know if you could make that work with your engine or not and that's a lot of money to gamble. If it were me, not knowing much about generators I think I'd go with something I knew for sure would work.
As part of an upgrade I'm doing on my 50 Panther with a four stroke Predator engine I'm going to build a new wheel using the 90mm Sturmey Archer dynamo hub. It is bigger in diameter than what comes on a Worksman rim (70mm) and is supposed to have good stopping power. It also has a 6 volt generator built into the hub. I'm familiar with the 70mm version of this dynamo hub having built such a wheel for a friend and it produces nice steady light... only when the bike is rolling of course, which is a downside of this setup. A battery pack wired into the circuit could be turned on while at a stop light and once rolling shut off. Amazon lists them. Good luck with whatever course you take.
Someday when I grow up I will probably lose interest in toys with wheels, but until then...