It will work in theory. But..

You'll need to hook that onto the spindle accurately with the wheel on with the load of the car for it to be practical.

For me, some disk hubs don't have flat machined surfaces around the snout of their bearing housings. And sometimes there is very little room in there next to an aluminum rim. Like a Crager or Torque Thrust with a raised area around the spindle. And there really isn't a flat surface on the tip of the spindle.

So I went up to the rim clamp version. About $240 on amazon.

It was expensive, but within that I did gain a digital angle finder tool that I can use for carpentry, pinion angle, or whatever. The angle finder just magnetically sits in the tool. Just pulls right off to use for whatever.

http://www.amazon.com/gp/product/B000VAS...A1J30JMN22XACTH