Engine Build

Hi, I would like to build a motor that makes about 335hp at the rear wheels. I am going to build my 89 mustang to race in American Iron and there is a 9.5lbs to 1hp limit, i calculated a 3200lbs for my car. I was thinking about an engine set up as the followed. 306cubic inch, with 12:1 compression with AFR 185cc heads with and Edelbrock performer II intake with a 65mm throttle body and a 73mm mas air with 24lbs injectors, long tube headers and high flow cats and dynamax exhaust, and i havent choosen the cam yet

I would love to know if this combination would make that much power or if it makes more. Or if it doesnt stroke it to a 331cu. It will also be backed to a D&D viper T56 and aluminum drive shaft. with 17x9.5 wheels. Also does anyone know what percentage drivetrain loose takes away from power.

IF anyonw knows of any resources that are able to calculate different engine combinations to see what kind of power it would produce.

Any responses will be greatly appreciated! Thank You