3x7 speed conversion to 2x8 speed conversion questions

Sure does.

I did this very thing for a while. Just sub the 11T lockring for a 12T lockring you steal from elsewhere.

Do the 11t Lockring and the 12t sprocket have a disagreement?

I didn’t even bother trying, but it’s likely to be a frac too small to engage the knurling right. Might work well enough.

Your LBS can save you one from a worn cassette I’d wager. They’d throw out a bunch each week.