There may be a size limit above which this style of snuffing will not work well. The larger the spin, the greater the surface area that you're dragging across the mouth of the snuffer ring, and friction increases accordingly, at some point being greater than a unassisted crew can pull in quickly. And if you can't get it snuffed quickly, it's gonna end up in the drink. And with a big boat and a lot of sail area, that could be dangerous.
That said, we had Dennis at gobarefoot.com build us a custom SNU snuffer for the 35 sq mtr chute on our ARC22, and it works very well. We have a separate tack line, and keep the spin well lubed. I'd really recommend the SNU, or other manufactured system, over a do it yourself attempt on this scale. The sailcloth is put under great stress getting pulled in and out of the mouth of the snuffer, and the connection between the bag and the ring/snuffer mouth is a critical design element in a successful system.
Good luck, keep us informed of your results, and adventures!
PM me if you wish, I have a bunch of pics of our set up.