Sure it would, but as you said, it's really overpriced. All you really need for a flamethrower car is a couple sparkplugs, a couple coils, some wire, and a switch. That little module is a neat little addition to kits recently that improves the flame by stopping the iginition and maxxing out the injectors (as far as I know). They showed the install of a similar kit on Trucks! a while ago, not sure which episode or which season.
While these kits do look cool, they're rather illegal (for street use of course), very tempting to use at inappropriate times, and a great way to blow your motor.
-Jade