You didn't "connect all of the dots" in what I said. You can:
1) find out what weight is needed on the flywheel or flexplate for a late 340 and at what angle it gets installed on the flywheel or flexplate (relative to the crank bolt pattern) and at what distance.
2) THEN you REMOVE that amount of weight at that distance at a point 180 degrees away on the flywheel. That will allow you get this to work with your existing flywheel.
Then you have money for a less expensive damper.
IMHO, you have a bad plan. How will you KNOW what amount of vibration is bad and for how long?