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Yes, it CAN be done. I did it, ran them for 3 years w/ no problem. Here's what you need to do.
Mash the dust cap flat
Take the centercap for the wheel, modify the back of it by cutting a round portion on the back out for clearance
3/8" wheel spacer (similar to THIS)and a set of lug nuts like THESE The extended thread will reach down in the wheel for added thread contact to compensate for the spacers.