Hi! I love your idea. I'm pretty sure that if you print that stuff out on a laser printer that the modge podge shouldn't smudge the ink. I tested this theory out on a Red Sox project a while back, and it worked, but I would still do a test run just to make sure. Hope this helps, and I REALLY want to see pics when you are done.
Oh and check out this previous post from way back when I was doing my research: