That color will work great.Also has these little block nubs on the forward crank housing and kickstand barrel in the rear. There looks to be a hole for a cable to run through. It's got me puzzled as to exactly what the story is here. No other Schwinn tandem looked like the mini twin (26" and 24" versions) both had a third stay between the seat stay and chain stay. Date code puts it at March of 68, also has other bolt tabs with factory looking screws you wouldn't need for a single speed or kickback model.
If this is someone's creation I must say bravo!
I'm going to be painting it VHT burnt copper which is really close to the Schwinn Coppertone color that would have been one of the 3 available colors along with Sky Blue and Campus Green.
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Did this a while back with the same paint so this is the color.View attachment 212300
I believe it's a modified bike, as the nubs and things must have been brazed on. They did a good job. The BB caps may hide some of the original paint. You'll have to pop them off to get a look. The bike must have been sandblasted because there's no hint of anything other than red.