Dave - I have to ask why you want to do this. Fires in the engine can occur with every make and model of vehicle but no more with a landie than any other vehicle. If you are experiencing too much heat in the engine bay, I would look at ways to alleviate that heat build up as opposed to putting in this type of system. If a fire does occur, the aluminum block will be toast from the heat before the system can even do it's job.
Although I think this type of system is pretty cool, though!
*edit - I stand corrected. Certain years the 110's were prone to engine bay fires due to the routing of oil lines.