This dilemma has been around for decades. Since 1983 I ran a Friggstad AF1 air seeder with the Wisconsin/Teledyne 2 cyl air cooled diesel. It worked good but was always under powered a bit. The thing that killed mine was that I forgot to take the air shields off one year and remove the usual mouse nest and I cooked it in about 1/2 an hour. They were only rated at about 20 HP so marginal for higher rates of fertilizer. There was also a Lombardini air cooled diesel used on these Friggstads that had a little more HP, maybe 22, and therefore lived a little longer. These were not a bad setup really, under powered would be my biggest complaint. In the early 90's I had a very good Steiger CM325 with open center hydraulics that I wanted to use to pull a Bourgault air seeder with a 2195 tank with a hyd fan. To avoid the usual heating problems on open center with a lever tied back, I bought a 2-71 Detroit, about 60 hp, that had a Rockford clutch setup as shown in the pictures. This Rockford is a proper industrial drive that gives you an over center clutch and a 2 - 2 1/2" dia shaft to mount your 2 or 3B drive sheaves on and not worry about side load. I used this engine to drive a Chicago blower off an old Friggstad AF1 and mounted it all on an I beam frame that slipped onto the 2195 frame. I had the old Chicago fan balanced to 3000 rpm and with a 2 : 1 ratio off the 2 - 71 it just idled along at 1300 - 1500 rpm while making huge air which I then used for the BG air seeder instead of the hyd fan. This direct drive fan worked very well for many years. A little more maintenance, another thing to fuel up, but it ran more than a week on the 45 gal drum for a fuel tank. It allowed that CM325 to work for many more years without trying to figure out that magic of Capital Cost Allowance!!
On the subject of hydraulics, a rule of thumb is that 1 HP can produce 1 gallon/minute of oil at 1500 psi. So at 3000 psi it takes 2 HP to produce 1 GPM. And a 100 gpm at 3000 psi takes 200 HP. With your idea of using a Cummins 3.9 to drive a hydraulic pump, it is certainly doable and would have some of the nice features of, turning fan on remotely, being able to adjust speed remotely, although that would be easy with a linear actuator to the throttle on a diesel engine too. Nothing wrong with that Cummins 3.9 for sure, but now there are some real nice compact diesels like Kubota, Mitsubishi, Isuzu etc that are readily available and all play nice with SAE components from Hayes for making your flex coupler drive off the bell housing #5, 6, 7 etc. If you are serious about doing this I have quite a bit of what you need like new or used engines, hydraulic pumps, oil coolers etc. My vote is that for a lot less than $15,000 you can make your drill work pretty well.
HP = psi x gpm divided by 1714
Flow = RPM x cu/in (cc) divided by 231
A couple of useful formulas to do some calculations to see if your thoughts are in the ballpark. Keep us informed of what you learn.