Uh. No. If it ain't runnin the timing light is not gonna do anything. give that idea up.
but ballpark spark timing is easy if you just compare flywheel and distributor rotor positions.
(eye ball should get it close enough to run. Then do it by ear from there.)
But if you've got a lot of lash between crank and distributor rotor then you're not gonna be able to fix it with just timing. I'd go ahead and pull the valve cover. Then you should be able to check valve timing with cranking flywhell forward and again turning backwards. If the same valve event isn't at the same place both ways you can guess the timing chain has slack.

But, I'm no pro. see if you get beter ideas in here too.