I'm going to be using the inner of 2 rings for my fixed conversion and thus have no use for the outer ring. However, the chainring and crank are one piece (see below). Would I be able to cut off the outer chainring above the bolt with a dremel or hacksaw or what not (I'm poor, okay)? Would it be physically possible and would there be any drawbacks besides looking strange?

don't use this crank. The chainring is bonded to the crank arm. This bond has a tendency to break when you're applying backpressure. You are then left with a pizza cutter instead of a crank.

Find a crank with a spider that is forged as one piece with the crank arm.