eliminate proportioning valve??

I am going to adapt a late model aluminum m/c to my 70 Dart, Can I safely eliminate the prop valve all together by putting adjustable pressure valves on the front AND rear line. Stock KH front discs and stock rear drums for 8 3/4. I plan on using one that has a 1 1/8 bore and putting 7/8 bore wheel cylinders on the rear. And experiment with settings till I get it where I want it??? That it has a warning light means nothing to me.