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Should do. A 70 SS BB is 114.5mm, with the 5mm offset that was common at the time.
See this pdf for Record BB standards pre C-Record. The pre-1978 (pre-CPSC) 70 SS 120 is 2.5mm shorter.
If your old spindle is unpitted, you could always just replace the cups.
Does it also need the 5mm offset, like NR at the time? If so I suspect a period BB or a custom Phil (expensive) are your options.
The taper for Gipiemme isn't ISO, but should hopefully be close enough.