Hell no that wouldnt work! Twisting a chain like that would cause it to break, instantly. A brand new chain wont twist like that, by the time you are able to get it to flex it will be far too weak and its tensile strength will be diminished.
I don't know of any companys who sell dirtbikes with 750s,street bikes yes. A KX500 or CR500 would be the best engine you could put in a small kart like that. Where I work we build custom stuff like this as side projects for taking to shows and screwing around on. I get discounts from parts unlimited so let me know if you need anything.

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