Seems pretty reasonable. I wonder though, thinking about where your ram mounts, if the twisting force that will result might still be enough to want to tweak the cover?
I think I would also put the forward side of that at the tube flush and trim while welding, and have a washer's worth of space against the axle tube, so that it is trying to smoosh the cover on harder rather than having any chance of the brace trying to pull the cover off.