You can absolutely do a plug chop of your bikes idle. You can do it was any rpm range you want, technically.
Say you put in plugs and start the bike and warm it up. You then let it idle. If it is rich or lean, your plugs will certainly show it.
A chop is also useful at WOT. A person has no other indicator for the mix at WOT than to do a plug chop.
A plug chop just doesn't need to be done at idle or midrange because if the carbs are tuned properly with the a/f screw, then a chop won't be needed.
From there, the needle position only determines when the mains become richer, not how rich.
In most cases, a plug chop is done by wringing the piss out of the bike and climbing through the gears to maintain high rpm and load on the motor. Once 5th is reached, the rider pulls the clutch and hits the kill at the same time and brakes to a stop with the engine off. Once cool enough to reach in, then the plugs are removed to inspect. That is a WOT plug chop and only tests the mains.
As for installing an o2 sensor, that linked ebay isn't too useful as it does not measure accurately. I thought about it a few years ago and the narrowband sensors don't cut it. A person needs to use a wideband to get accurate readings.
Not only that, but a bung MUST be welded into each header pipe. This is the only way to accurately test each cylinder's A/F. Plus, unless you get a heated sensor, they must be close to get hot enough to read properly.
There was a discussion on this a few years ago here and this was the end result. So, while o2 sensors are certainly feasible, you need to use wideband(this is the type that is mounted in the exhaust header of a car), 4 bungs with plugs, and of course the display. The narrow band only measures if the reading is over or under. this is the type of sensor that is used further downstream for exhaust readings.
More info on the difference between narrow and wide band.
The ride IS the adventure. The destination is just to get gas!