I haven't done one of these but from a straight repair analysis, I'd let the new chain droop over the exhaust cam then outside the engine, as you roll it in things should be OK. The cams will snap back and forth but I would not expect them to be so far out of time that a valve would hit while slowly turning the crankshaft.

Once the chain is all the way around I'd recheck cam timing before the master link is set.