I haven't tried it, but have eyeballed doing the same thing. Actually I'd try just swapping the chainring portion after you remove the crankset. See if that fits, then you are at least using the same bearing surfaces in the BB where you need to be the most concerned about compatability. The other challenge might be the FD, so be prepared to swap with the Huffy. The FD on the Conti might not have enough travel, but try it first.

BTW, the original freewheel on my '62 Continental was a 14-25 tooth five speed. I'm currently running a 15-29 with a Nuovo Record RD (which the books say can't be done, but it works). Paired with a 42 & 47 tooth chainring up front, I do OK on the hills, but it certainly is a workout. There are times I wish I had left the Conti at home and ridden my Paramount or Traveler with their granny bailout gears!