It might be more convenient to set up an pseudo autocollimator using a digital camera and work from the comfort of your home.
1. open the shutter on B
2. take a 35mm tall piece of glass, put a sharpie mark on it and hold it on the film plane (mark facing lens)
3. setup a digital camera with a (preferably) long lens, make sure it is focused at infinity
4. place it in front of the Xenar lens and observe the sharpie mark using the zoom on the screen. It'll come into sharp focus when the Xenar is at infinity.
Your suggested method also works. It's best if you can sight a tall building against the sky. Sometimes there is a small parallax error using a split prism but it's minuscule.