Another trick I've used many times is to grind 3mm off the inner side of the pedal arm to make room for the sensor. That saves a bit of weight too.
Installing a large disc on the non drive side is a bad idea. It is going to be regularly hit by your left shoe and loses its grip on the axle in a few months
But the gears will be out? it's a triple chainset currently.
Might be worth a go: I've used superglue and very fine grain "Food grade" bicarbonate of soda to stick metal to plastic several times over the past few months - the combination is an incredibly strong adhesive. I haven't yet needed to try the even stronger superglue + graphite.
After discovering the tiny screwheads of these tiny screws easily broke off when tightened, and had fouled the very short thread of the thin aluminium casing, I bonded the plastic light mount to the aluminium casing of this Planet X bike light. This plastic-like material can be sanded down and shaped.
After epoxy resin failed to bond a block of wood to metal strongly enough, and superglue by itself didn't work, I lightly dusted over the wood with fine grain food grade bicarbonate of soda, squirted over cheap and very runny superglue, then quickly pressed the wood to metal. It set within about 10 seconds. Then I screwed in hooks to hang heavy items from.
Some superglue types are less runny than others, some set slower. Bicarbonate of soda reduces setting time considerably, and runny fast-setting superglue is difficult to control... therefore I suggest that the OP consider using epoxy or superglue to stick the disc to the pedal arm, after it's been ground to size as
@saneagle suggested, then apply superglue + bicarbonate of soda in layers all the way around, or superglue + graphite. Then file and sand it down. The material can be coloured black using a permament marker. But I'd test to see if superglue dissolves the disc's plastic first. This light hangs down, it's stuck like stink.
p.s. Have acetone handy, to dissolve superglue on your fingers!
p.p.s. The superglue combinations mentioned could be too brittle for this application.