If you're already deep enough to get to the timing chain, just replace it.
I'd go with a double roller chain instead of the flat-link style though. Less stretch and wear over time, keeps the vavletrain timing more accurate. Stronger too, as many flat link chains also have nylon teeth, a roller chain has steel. A touch louder though, but you'll never notice it in a defender.
My oil line fix
My 100k stopped odometer fix
Brace for impact, I'm in a "modifying mood". Massive thread count inbound.