You are making your MAc sound like an even smaller engine. I cannot remember the size but seems like it was a 25? I've never seen anything about converting these. The 28 and 32 have cantilever cranks. There's nothing sticking out the back.
Look at
www.rcfaq.com and you may find some of the answers with pictures of what you are looking for.
There are two popular electronic ignition outfits around. One is C-H ignition and the other has been Ralph Cunningham in Williams AZ. Find C-H with Google and Ralph with the Explorer white pages.
Read around on here in the conversions and gas sections and you will find these people mentioned as well as pictures and a wealth of info regarding your interest.
Your existing engine as well as the chainsaw types have this shaft sticking out the back. Some people saw them off and others let them wiggle back into the fuselage. The choice is yours.
The electronic ignitions we are referring to are the type that have a Hall effect sensor on the front of the engine that detects a magnet at a certain location in the front hub as a timing reference. They are powered by a conventional NiCd or NiMh 4 cell battery but with 1100+ mah capacity. All this is available from the two companies mentioned or you can send your engine to them and they will take care of everything.
Enjoy,
Jim