Is that the ONLY location on a 6.2 that you can get a pressure reading from? There are a few taps on the SBC's, perhaps there is more than one on the diesel?
I wouldn't recommend ANYTHING inline with the oil cooler lines unless I was replacing them at the same time. Those things are really bad about springing leaks (especially the newer rubber only ones) and a leak from those lines is potentially a lot worse than one from a 1/8 fitting.
With my 350 the SDPC TPI intake covered the stock oil pressure hole, so I moved it down to the oil filter, but needed to use a few pieces from the local hardware store to get everything to clear the block. 45's, 90's, all available in 1/8". I don't like adding anymore connections in lines than necessary, but if you want to hook it back up, and that's the only location, there's gotta be two inches between the firewall and the port, doesn't there??