Is there any reason I wouldn't be able to install this http://www.musiciansfriend.com/product/DiMarzio-DP101-Dual-Sound-Bridge-Pickup?sku=302755 in my '69 Reissue Fender Mustang? It has two stock single coils in there now, and I want to keep the stock neck pup, but I want a humbucker in the bridge and having the single coil ability would be great.

Obviously I'm gonna have to rout it and do a lot of wiring mods, but is there any reason why, with a ton of work, it would simply not work or would be a bad idea?

Also, is there some way to wire my Mustang's current pick-up selectors to work with that? Lemme explain that in a new paragraph so this isn't a total wall of text. Right now, it has two selectors with three positions each. Could I, for instance, wire it so selector 1 was like it is now (on-off-on), and selector 2 was phase-single-off?
El Gearo:

Fender '69 Reissue Mustang
Fender American Standard P-Bass

Fender Blues Junior