Basic idea is good, but more complicated than need be. I used nylon reinforced high strength tape (the clear tape with nylon thread running through it). Use the 1" wide tape. Decide where you need to cut it, mark it with a black Sharpie permanent marker. Position the tape centered over the black mark, and wrap it tightly for 1-1/2 to 2 wraps (no more). Cut through the tape and hose on the mark and simply leave the tape in place.
When I've crimped hose ends onto a hose cut this way I have never had an issue with the hose end being compromised by the tape. It should equally well for the fitting assembly shown above.
Determine where you need the hose cut, mark it, tape it, and then take it to any shop that makes crimped hose assemblies (any Parker Store does this, many NAPA stores do also, any hydraulic hose distributor will do it also) and ask them to cut the hose on their hose saw. Then use the resuable hose ends if that is your choice.