Well, I give you a lot of credit. You are a creative thinker.
Here is my 2 cents- you need a much larger sprocket that the engine clutch drives at the jackshaft. I am trying to remember what ratio I started with and I think it was 12 to one over all.
Spin the clutch over (after marking the clutch and wheel)- count how many revs the engine does to one rev of the back wheel. I am absolutely certain you are way wrong right now.
You do not want the clutch to slip all the way up to lock up at some high speed.
I like your idea of using the "bottom bracket" for a jackshaft. If you put an adjustable heavy duty idler on the spot above and below the pivot point of the rear triangle (the top idler goes above the top chain and the idler below goes above the lower run of chain) I think the chain will not go slack or tight as you flex the rear suspension.
I actually have been thinking of the same set-up as you have done and without doing this double idler deal, I think the chain will be coming adrift on bumps.
It takes amazingly small distance changes in chain adjustment to have the chain too tight or too loose.