With the head off you can wind in the chain no problemo. Don't let the slack end get caught around the crank gear or you could damage the timing cover. Not likely if you proceed with a bit of caution and common sense.

I wouldn't recommend a clip style master link. You can peen the master link without the M/B tool, although it does make it easier. With a large and small hammer it's doable. Assemble the link, hold the large hammer behind the link and use the smaller hammer to peen over the end of the link. The larger hammer will soak up most of the blow and you don't have to get too aggressive with the small hammer to get a decent peen.