What if you left the rear derailer on it and used the tension spring in it to compensate for the chain slack created by the spring/shock compressing on hits? Lock it down some way to align with the rear sprocket.
You'd almost have to have a tensioner of some kind. a derailleur would work. If you can't set the limit tight enough to put the chain were you want it then use an old shift cable. Run the end through the barrel adjuster on the derailleur and try to set it as close as possible. then you can tune it out with the barrel adjuster. Any pics of what this is going to be done with?
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