If I can suggest ...
Your mod ought to be perfectly fine, at least for normal travel. But it wouldn't be a bad idea to drill a small hole right through the bolt, just above the wing nut. Run a piece of wire ( a paper clip is a good choice) through the hole and twist it so it can't come out. This keeps the wing nut from backing off under vibration.
The military and aviation guys call this safety wire ...
Bill
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