Fairbanks-Morse Magneto help

If you keep that Wisconsin, the mag will only be the first of your problems. I've worked on a variety of Wisconsin motors from the singles to the larger V-4's. You soon find out that Wisconsin is synonymous with misery. Any way you can adapt a current engine to the alternator? You're only looking at about 3-4 hp.
In fact as old as that one is, it likely does not even have diode rectified field. It may be a dc generator to produce field current, meaning commutator/ brushes to wear, or it may be the old selenium rectifier stack. Plus the genset winding/ wiring insulation is "just that old"