mate runs an engine kill switch like the one suggested on his sprint car, with over $60K in the engine, as soon as the oil pressure drops, it cuts everything.
with our cars it might ne a little harder than the carbied V8.. as you have to bypass any chance of a turbo timer working etc, then power steering and where you are.
but i am DEFINATELY going to run a switch to a specific light (autometer pen light for example) that will be direct line of sight. might not save the rebuild, but you wont go seizing anything.