Neat idea but need to consider the entire system.
Cutting the wires isn't a big deal. Just offset the cuts and reconnect with good quality bullet connectors that are covered in heat shrink tube, locking the connection back together.
I try to have all splices in multi-wire runs NOT line up with each other. This spreads out "bumps" in the wire instead of one huge knot of a splice + insulation wrapping.
You should inspect the way the rails are assembled and find out if there are set screws pressing on the surface of the tubes or if there are screws that penetrate the tubes.. Possibly replacing the screws if they penetrate would deal with the potential issue of a pointed screw punching through insulation. Or maybe adding a flex tubing liner inside the rail to prevent screws contacting the wires.
Also there's where the wires will enter the rail and where they will exit. You need to ensure that isn't a sharp metal edge and if cutting holes in the tubes you need to ensure you are not compromising the structure of your safety rails... People tend to lean on safety rails and use them to tie things onto the boat.
