Basically a good thought Bill,
BUT:
First of all, like E mentioned, a Lucas mag rotating at crank speed (6000 rpm+) will disintegrate, for sure, no doubt.
Secondly, just think of the problems you sometimes encounter. Have you ever had a bad spark plug that seemed to work perfectly alright when outside of the engine, but as soon as you put it back in the head it would refuse to ignite the fuel-air mixture? Or have you ever had a soft pickup brush leaving a conductive carbon track around the slipring, resulting in misfiring?
These are effects of the compressed air-fuel mixture in the combustion chamber. When exposed to the high pressure, it will need much more energy for the spark to jump over the elctrode gap.
Hence, if you connect the two pickups together, even if the electrodes and their gaps were absolutely identical (which can't be achieved anyway), the spark will almost always appear on the cylinder that is on exhaust stroke. The same happens with the aforementioned carbon track, the spark will "run" along the carbon to the other pickup and to the cylinder on exhaust sroke, rather than going straight through the brass insert and to the correct pickup.
Cheers, Markus