It won't work...
The smoke will condense again before it passes out the back... you'll have oil dribbeling out the back of your plane instead of smoke... sorry to disappoint you...
The key to smoke is heat, and with a pipe all the way to the back all the heat will be gone.
If you can live with the sound of a jet plane powered by a piston engine, why can't you live with the smoke comin' out the front instead of the back?
If you need smoke, just install a standard smoke system... and don't try to get cute... it will save you a lot of headaches...