IF it worked, which I doubt, the RPM's would be so far off as to be meningless. Tach/dwell meters aren't meant to take AC, only DC in the correct polarity, so first off you'd need a doide. Second, it's possible the slow rise and fall times of the rectified sign wave would cause further inaccuracies.
Third, the pulses per revolution and pulley ratios would have to be calculated to get anything close to meaningful. A mechanical tach on the crank would be the best way to get an accurate result.