please go on with your giant rear sprocket. I like it!. Did design something equal last year but never built that wheel due a lack of skill. One stage giant reduction is fascinating..at it's best with a long RPM band motor like the one you chose (0.2mm lamination)
Your motor could get some decent cooling though. Do you plan do enclose it or cool it by through flow air? I tested flewing air cooling RC outrunners on on street bikes but abandoned it due magnet corrosion. Did some brake caliper finish on the magnets but that didn't hold up very long. I'm waiting keen for new ideas here. ATM i'm stuck with inrunners since they are really simple to cool.