Yes, this is exactly how most people configure that kind of scenario. The only difference in your TracerPlus configuration is that your TracerPlus Connect Host IP will need to be set to your outside facing IP address.
**I imagine you knew that but in case anyone else reading this thread needed that added info.
You can technically use whatever port you would like. You just need to make sure there are no other applications using this port. Port 80 is commonly used by web servers, so if you have a web server running then TracerPlus Connect will fail.