Just my opinion, but I don't think Lubriplate is too thick to flush out on a splash/spray oiler. It will get pretty thin as the bearings warm up, and the rods are moving pretty fast so the dippers on the rods kind of generate their own pressure. I think that would drive oil into the rods even if there wasn't a spray and relied only on oil in the troughs. Full disclosure, I have not used it on a 216 with splash/spray rod oiling.
I'm sure Jerry (Hotrod Lincoln) will be along with an opinion, having built a large number of engines.