Yes, a 12" wide wheel is possible on a 67' and 68'. Backspacing will depend on you axle length. Stielow's Mayhem had 12.0X19 (325/30-19) and also 12.5X18 (335/30-18), but he pulled, stretched and rolled the rear fenders.
I have 315/35-17's on my 67 and haven't rolled the fenders. Even still I could easily go wider. Don't know the backspace as i ordered the rear (56") to set the wheels where I wanted them