Yes, it will work. The 1275 GT's were like this from 74 until you guys went to Tandem Brakes.
You'll need to use the right size rear wheel cylinders, most like 5/8"
Is that instead of a pressure limiter?
I would strongly advise using a pressure limiting valve on the rear brake circuit. With 7.5 inch discs the 5/8 inch bore (16mm) work well but you may need to still tweak the pressure limiting valve to prevent rear wheels locking up under hard braking in wet.
With 8.5 inch disks these should stop better, and may need to use rear cylinders smaller than 5/8 inch bore or an adjustable pressure limiting valve to get the correct balance.
And if the brake set-up is not factory standard then this is one of the areas where you must notify your insurer of any alterations from standard to avoid the risk of cover being voided in case of any accident (even if it was not your fault).
I have read and take on board that some guys have run this set up without a limiter valve and without issue.
In line with Carbon, I have to say, I would run one of one type or another, if for no other reason than 'insurance' that the rear wheels won't lock.
As far as I am aware, all Minis made - except the Diagonal Split Tandem set ups - had a limiter valve of one type or another. I could be wrong on this and happy to be corrected.
The Diagonal Split Tandem arrangement didn't have them as there 2 separate rear circuits, so this would involve a special limiter valve that could shut off both circuits while keeping them hydraulically isolated from each other, otherwise, if 2 separate valves were fitted, one wheel would almost certainly shut off before the other and the difference could be vast. In this set up, the means of 'limiting' was done by fitting very small wheel cylinders (1/2" if I recall).