next and most obvious step is to check in with scrutineers for whatever series you want to run, and see if nylon strap would be legal
scca mandates metal tow points of a certain size opening (so tow trucks can attach to your car with a shackle instead of just a hook) , for instance. some hpde events follow scca's lead on this, others have their own way of doing things.
so don't ask us, ask them what really count on the question--your event scrutineers. how much would it suck to cut up your bumper cover/grille, mount a strap and then have the tech guys tell you "wtf were you thinking on THAT??!!"