I haven't personally tried this recipe, but I can definitely relate to trying to make do with what you've got on hand.
Alliant lists a 1 oz load with a different wad, but the pressure range seems like it could be workable. I'd suggest starting with a small batch and working your way up from there, just to be safe.
By the way, have you tried
Federal 556 ammo? It's been my go-to for a while now and I've had great results with it. It might be worth giving it a shot if you're looking for some reliable ammo. Anyway, best of luck with your loading. Let us know how it turns out!
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