A little something that might get you by until you figure a way. I took a 3/8 to 1/2 socket adaptor. Then I put it on a short 1/2 drive extention (which fit my crank shaft for the handle (removed the handle).
Well then I just chucked my 1/2 drill on the adaptor (3/8 side) and I use my drill to run the Z up and down. The Z just blows and I could not crank it the way I needed so I come up with this one night.
As far as the motor you linked I do think it would drive your Z. If a portable 1/2 batter operated drill will then that should.
You might also take the plate loose that holds the Z axis lower mount and gear assy. Mine was binding and there is a bit of slack in the mounting screws for that plate which allowed me to move it around to help the align the gears in the column better. I also loosened the plate that holds the handle crankshaft when I did this. I cant remember but I might of even put a shim under that crankshaft plate.
After working with the gear alignment it is crankable by hand without as much trouble as before. As long as I am just moving enough for a tool change I dont worry with the drill. But when needed I hit it with the drill and it goes up pretty quick.
IDK if yuo noticed but that motor you listed is rated in in-lbs, not in-oz's, so its probably stronger than your thinking. I believe thats around 640 in-oz when converted. It should work without any real strian. The RPM is the only real kicker on it. This will be a little slow, but not real bad. I used my drill in low gear before and its not two bad which is about 400 rpm. So you should be good with it.
The only thing IDK is if the rating is at the motor shaft, or after gearing it down. Either way it get you by.
BTW, I would just try it direct drive first. I think it will push it if you work on your Z gears in the column and get it all working smooth.
Jess
GOD Bless, and prayers for all.