i don't know if the .32 squirrel is the same as what Hank shows, but the .45 cal CVA I took apart had the same set-up as far as the drum. I never tried to take the plug out. One thing to check would be the volume of the 'antechamber' (?) in the front of the plug. It is the diameter and depth of that hole drilled into the front of the breech plug. It also gets drilled into the end of the drum, as you can see in Hanks pic.
On the .45 cal CVA I took apart, that hole was about .25" and about 1" deep. It was hard to clean, and would fill with residue after a few shots. I drilled the hole out to 3/8", same depth, and this required a minimum of about 45 grains of powder to fill that hole so the ball would seat on the powder with no air gap.
If you make any modifications to the drum, you might also effectively increase the volume of that chamber, which would require more powder to get the ball to seat on the powder. This may not be a big concern on a .32 caliber with a larger barrel, but it would be good to know before proceeding. Air gap in this caliber might not be a safety issue, but it will probably not help with accuracy. It may also create a 'trap' for fouling that is difficult to remove, and may cause misfires after just a few shots. Just some of the things to watch out for.
Not impossible, just have to know what you are working with, and what the changes will do.