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The problem with taking this approach to the problem is that (1) The "check engine" light will probably be on afterwards, because the module will be attempting to control a charging circuit that is no longer connected. If the light is on constantly, you will not know if any other problem develops in the vehicle.
Also (2) If the module has an internal failure causing it to not be able to control alternator field, perhaps it has a cracked circuit board, corrosion, or other damage that will eventually cause it to have other failures also.
I checked Carquest's pricing; a remanufactured SBEC controller for this vehicle ranges between 165.00 and 180.00 garage cost from them, and you can likely find one even cheaper if you search the discount stores. You will need the number on your original one for accurate identification though; there are several versions used depending on options. In my opinion, this would be a much better approach to ensure long term reliability than rigging in a different regulating circuit and ignoring the underlying base problem...