you can do these things, but "safely" is the key word here. You really need to go to a dyno that has a true sniffer that can show you what your A/F ratios are when in boost.
Now, some people will say "isn't that what a wideband is for?" Well, yes, but most "wideband" products offered are:
A; not a TRUE wideband, and
B; not advantageous to be watching while driving
You could go MS or another program for data logging, but you would then need a true wideband sensor for that.
Cheap, Fast, Reliable. You can only pick two.
Kurt 85 SVO