Concur with those who have heat concerns - as mentioned, the OEM fuel pump (in-tank) is designed to spend most of its life cooled by the fuel in the tank. Seems funny to use something flammable as a coolant, I know - but it's no less odd than having something electrical in there in the first place...
If you're going to try a heat sink of some variety, I'd argue against using a hose clamp - too easy to overtighten and screw up clearances between the rotor and cell (most OEM fuel pumps are rotor/vane types.) Instead, use a good heat sink compound or thermal epoxy (thermally conductive permanent adhesive) to affix the sink to the pump.
Ideally, I'd agree with the rest. Use a dedicated external pump that can deliver sufficient pressure and volume, and probably stick heat sinks to that if possible. Also, mount it out of the way of mud splash and the like - mud is a great insulator, and can cause a fuel pump to overheat in short order if it gets all over the thing...