There was a guy on the forum that did one about a year ago, which, IIRC, he did by makinging the hole in the magnet ring bigger and then he glued it with epoxy putty. He didn't fit the sensor in the normal way, but instead bent the metal ring back and fixed it to his chainstay again with epoxy putty.
If I were to do it, I'd fix the sensor in the normal way and then dremmel out the hole in the magnet ring to the exact size for a tight fit on the spindle and then put a fillet of silicone sealant on each side before re-fitting the pedal. That should be strong enough as there's no force on the magnet ring