With the right laser removal treatment and the right artist there are so many possibilities when it comes to cover ups. The tattoo place I’m going to in a few months have managed to cover up big, ugly, black tattoos with some beautiful, colorful tattoos (when I say colorful I mean dark colors, no way would you be able to cover that with light color). With a cover up you’ll have to have a lot of patience, and a lot of money.
I’m sure if you find a good, skilled artist who specializes in cover ups, they could try to cover your existing tattoo with something very similar to the new one you’ve designed.
EDIT: Ah didn’t read the rest of the thread, wish I could see the after pic though. If I were the OP I would of went out of my way to travel to another country far, far away to be able to cover that lol.