You could probably get this to work, but it would work, not be functional.  I don't see the point really, there's way too many variables to try and simulate accurately, and even if you manage to get one set of variables to work, you can't vary anything because you don't know how the variation affects other sensors.

Say, for example, the "injectors" are on for 13ms, how much fuel is injected?  What happens to the lambda reading?  Do you force a lambda reading, so say it "sees" 0.83, what happens to the injectors?  I'm not trying to shoot you down, but you'd be much better buying a donor and mounting it on a stand and venting the exhaust outside so you can tune inside.  Hell, it's easier to set up an emulator for the ECU so you can monitor/edit variables in realtime.