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Solution: The solution I've put together is quite complex.  It involves various switches to control when it's armed and activated.  As such, I've placed most of the controlling circuitry inside the primary control box.  Launch control is controlled via the lower four switches of the control box as view in the photo on the right. 

Implementation: The switches function in this manner:  The illuminated red toggle switch arms the launch control circuit. To the right of this toggle, a 4 position rotary switch allows easy selection of different (yet predetermined) RPMs. With the system armed and the clutch depressed, the system is activated by pressing the LH black momentary push-button switch.  At this point, engaging 100% throttle will yield an rpm limit as selected via the rotary switch.  With launch control activated, two conditions will disengage the launch control circuit: lifting the clutch or pressing the RH black momentary push-button switch.  At any time, the circuit can be disarmed via the red toggle switch.  Here are photos of the switch I put on the clutch. 

As they say, the proof is in the pudding.  So, with that, we'll see how well this produces consistent 60' times.   Stay tuned...