any risk in blowing an engine on purpose?

[s13rookie]

i have an 89 coupe. the engine leaks bad, knocks like heck, and spurts smoke from everywhere. im planning on replacing the engine within a few weeks, but figured i should have some fun with the bad engine first. the gas station about 1/4 mile from me sells gas at like 114 octane(turbo blue or something). im thinking of throwing a gallon or 2 in the car and screwing around one night till it stops running. it is an auto. my abuse will be contained to some donuts, runs down my works road, its about a 1/2 mile long and deserted

basically, will i risk any other parts of the engine or something else? im just going to go with the 16v swap w/a manual. and do i run the risk of taking my head off with a blown head or other part. i hope to video tape the ordeal , so i can reminiss about my first 240

thanks, matt