high side of the FET I think you'll be OK.
I would like to do this, but sadly, we can't. The high side (tab) of the FET is soldered to the pipe. We can't insert a fuse in between it. This is part of the reason I wanted to make a functional P-FET dummy load. It would be a high side switch, so common ground, not common hot. My only problem has been the control has to be referenced from hot, not ground. This has slowed my work on it to a halt.
I'm not sure what the group thinks about Polyfuse/Polyswitch but that might be an option too. They're like a little circuit breaker that resets itself. The problem would be finding one that can handle the voltage & current needed.
I love pollyfuses for certain things. But at this power level and this particular application, I think it's a bad idea.
We really really really want an indicator that something has tripped a satiety. And we also want the system to completely shutdown if something does happen. If something fails once, it's likely to fail again, and we really don't want it to keep cycling it through that kind of torment. At these power levels, we probably won't get too many second chances before something actually breaks. Unfortunately, pollyfuses will do exactly the wrong thing with the above in mind. They are much better for devices that are low maintenance, cheep, or are intended to be semi-disposable. This is a tool though, so it's expected that one will always have the will to fix and tune it. Self correctability is not desirable IMO.
Fuse experiment results
With a 220 milliohm wire wound 1 watt resistor and a 120 watt FET...
5 Amp fuse blows instantly.
10 Amp fuse blows after a few seconds, the resistor wire gets red hot.
20 Amp fuse will never blow, the resistor wire glows red hot, and eventually blows.
With a 1 ohm wire wound 1 watt resistor and the same FET...
5 Amp fuse acted like the 10 Amp above.
10 Amp fuse acted like the 20 Amp above.
Didn't need to try the 20 Amps fuse.
The FET survived the entire experiment fully intact and functional. After a while, both resistors will go open circuit if the fuse is large enough. So, it would appear that the FET will take almost any situation thrown at it without getting damaged. And that the resistor will act like a fuse if it's value is high enough with respect to the wattage. Which is all about what I expected.
So, I believe the trick to getting the fuse to blow while sparing the resistor is to make sure the resistor is high enough wattage, and is cooled well. And finally, make sure the fuse is rated low enough to actually blow at a reasonable current level. The tabbed resistors are going to be best for the first part. They will be able to get any heat made off of the resistance element faster. This keeps them from increasing resistance/dissipation do to positive temperature coefficient. Which will in turn keep the current up, making the fuse the most likely thing to blow.
As for fuses. Illuminated blade fuses are the bees knees. Can just use female blade connectors as the sockets, and mount them on the outside of the case if you want. Might get a little jerry rigged, but it can work. Or you could probably buy a 10+ slot blade fuse block just as easily.