You will have to ramp up the pressure to push the beer, however, if your only going to have it installed when serving, overcarbing shouldn't be and issue, just turn it down when done. As far as insulation, I would go with the foam wrap that they use to insulate water lines. Maybe, just maybe, you could install a 10' coil of stainless steel in the middle, that you could submerge in an ice bath.
Other option would be to run the beer line out to a jockey box, and serve out of that!
Diverse Haus Brewery