Hi,
I think it would make more sense to have a patch point just before the clipper, to avoid changing the signal or adding too much of it.
Instead of patch point, the following will work at this moment: Split Stereo Tool in 2 parts. Run all the processing except for the clipping on the first instance and send the output to the PPM encoder. Then take the output from the PPM encoder, and use that for the FM stuff and clipping. Basically the same setup that's described here:
http://thimeoaudio.blogspot.com/ (scroll to the bottom).
Note: You can use a single license if you set it up like this.