I bet that would work, but what about finding a 44-40 cylinder? The 38-40 cylinders are desirable for those who want to shoot their 41 Colts but don't want the hassle of loading 41 Colt ammunition.
ETA- I bought a 1st Gen 38-40 cylinder, to use with my old 41 Colt Bisley, on the Colt forum for $60. You might check over there for a 44-40 cylinder.