I have a Rockwell also...
That ram is a looong pull out
You need to plan for a way to grab/sling it so it doesn't spin around on you when it's hanging! I'd choke a sling on the ram and also on the motor. You could use a worm gear clamp around the motor to add a ring to prevent the sling from sliding off. Don't trust the band clamp for lifting!
If you can figure out the balance point you could weld up a fixture so you could tilt, clamp on the fixture, snug up, and slide out.
The motor isn't very hard to pull. Adding a hoist point could make that easier.
You might want to look at a track on the ceiling parallel to the ram. Maybe unistrut or barn door. You would be able to hook it, snug up bit, and roll out on the track.
I'd hesitate to put a hole in the ram. It's cast iron. I'd make a swing open shaft collar and clamp it on.
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