I have a hydraulic press so that helps, but your threaded rod idea works too. I used a piece of 3" white drain pipe with a large notch cut up one side. I might have taken close to a third of the diameter out and then cut it up about half way. I also cut about a 1.25" notch up the back as well.
If you use the all-thread method. slide it through the clutch, use a large washer, piece of metal, saw blade, grinder wheel. (we are jimmy rigging this aren't we?), or whatever you have handy that can bridge across the clutch opening. Slide the pipe sleeve over the all-thread until it rests on the "spider". Next washer up the all-thread and run a nut down on it. It may help to put the lower nut in a vise to hold everything up right.
Once everything is positioned, start tightening the upper nut so the spider moves away from the snap ring, it only moves about 1/8". Get a marker and mark the top of the snap ring. It will need to be replaced with this side up or it can come off later, don't ask how I know. Get yourself about the best pair of snap ring pliers and remove snap ring, cussing frequently.
Once snap ring is off, back off tension of upper nut until pressure is relieved. You will notice a keyed spline that has to be realigned when reinstalling. I mark mine with a yellow paint marker so I can see it easy when clamping it back down. Have fun with the snap ring.
VB