Alana sound a good idea but can't really see that making any lasting difference on inhibiting corrosion.one more thing. put some emulsifying oil in the water you run the engine in this will coat the water ways and help stop corrosion. if you use muffs, put it in a barrel and run a siphon hose to the muffs. if the barrel is high enough and you dont rev the engine you will get enough water through. make sure you add the water to the oil . do it the other way and it wont mix. emulsifying oil is used on lathes and other machine cutting tools
The oil/water emulsion will just wash away first time it comes in contact with water. Especially with water flowing rapidly and diluting any residue left behind after your flushing. Corrosion is prevented by creating a barrier from the elements attacking it. This oil won't do that.
That type of oil is as a cooling lubricant mixed with water for cutting tools, as you say.
I use it on my lathe and it does not coat the metel being cut or the tool used. It just washes away. Which is the whole point of it, to lubricate the cutting tool and remove heat generated by the cutting process.