Update: I bought a Gen 1 axle and spacers for my Gen 1 rear wheel. I pulled the brake rotor bolts and re-installed them with the TC ring behind them. Mounted the wheel and spun it by hand with no binds, then turned the bike on and spun it in gear watching the chain to make sure it was tracking straight. All looks good with no TC faults and the speedo reading. I didn't get a spacer made for the caliper bracket yet. I tried pushing it down all the way and couldn't get the caliper to crash into the rotor, but I want to get a spacer made so it can't float.
Edit: Please excuse the terribly dirty bike, stupid rainy season