That's a handsome looking machine you have there! However, wood cutting bandsaws sometimes have issues OTHER than just being way too fast for metal cutting.
The blade is typically pretty narrow, making it easy to cut circles and such, which is what they're designed to do. Metal cutting bandsaws typically have a heavier blade, at least half an inch front to back, and more teeth per inch. Verify that a metal cutting blade is available before putting a lot of work and money is that saw.
Another issue "may" be of concern. Check both wheels to see if they will track OK with the heavy big metal cutting blade, AND that the coolant that you'll want to use to prolong blade life won't affect the bottom wheel. Probably not an issue, but wood saws don't expect to be immersed in liquid while operating.
If everything looks good at that point, a jackshaft arrangement should work great. The support stand you have should make it a snap to gear it down.