You would need a sensor of crank speed. Could be optical sensor looking at a white dot on the crank pulley, preferably aligned with TDC of cylinder #1. Then you would need a sensor of ignition voltage on cylinder #1. With the crank speed sensor as base and comparing to #1 firing, you could see the difference in time between them vary as you vary the rpm and see the effect of spark advance. Once you observe the time difference between idle and a higher rpm where the spark advance kicks in, record the time difference. Take that time delta measurement every 200 rpm up to maybe 4,000.
The time delta converts to spark advance thusly
rpm x 60 = revolutions per second (rps); rps x 360 = degrees per second (dps)
dps x delta Time = delta (change in) degrees, or degrees spark advance from idle.
Do that, and you have your advance curve of degrees advance versus rpm.
If it were me, I would send my distributor to Charlie NY to be sure the advance mechanism (and everything else) is working right, and then time the engine by ear for the altitude, fuel quality, fuel mixture, and everything else that determines how far you can practically advance the timing.
"By ear" starts with setting the timing mark at the center position on the distributor. Then take the car out and floor it in second gear. Should not get pinging or spark knock, which sounds a bit like shaking some nuts and bolts in a can. Advance one mark, two degrees, on the distributor, and test drive again. Repeat advancing until you get spark pinging during your second gear throttle burst. Then back off in one degree increments until it goes away. Then one more degree for a margin of prevention.