Take pics as you go. I'd like to see what your up to.
All I can add is if you blow a flywheel up I don't think a little carbon is going to slow it down.
Even on the chevy stuff that uses a flywheel shield which is basically 1/8" steel they use the grade 8 bolts to slow it down or hold it in... the shield I looked at looked like it was mild steel.. I could be wrong on that part... but it sure wasnt thick