There is plenty of room on the cap. 1/16" lettering or there about is common. No magnifier need be included with the gun when displayed. Most everything you read in print is that size.

Or,,
Sidestep the problem all together by putting a grand or two into the gun. Have it engraved with a decent Winchester style pattern and work the names into the engraving. Scroll up onto the bbl a ways . Engrave the grip cap too!
Re-blued or a gray finish recv'r w/ blued bbl assembly w/the existing pretty fiddleback grained wood, it'll be a stunning gift for anyone as well as an heirloom.

Knock the shiny wood finish back with some rottenstone & oil if the gloss is undesireable. Simple wipedown with 0000steel wool will provide near the same look too.
Finish it off with a hand rubbed to nothing coat or 2 of linseed.
There,,all done. Have a nice Christmas.