There are several ways to "approach" the flywheel-without key orienting problem.
one: Location replication style. Get some sewing thread and clear tape, and, using measuring tools and your "line-up" eye, tape the thread across the exact middle of the underside of the flywheel in the exact middle of the "remains" of where the key used to be (running the thread just up the "edge" of the flywheel). Now make a mark at each lower edge, from which (say, using marker and then some kind of needle or scratch awl) make two lines up the two opposite edges of the flywheel oriented at the exact ex-key place rotational position. Now do something similar from the crankshaft "keyway" so that you have two marked "spots" on the orange plastic, etc. in the middle of which the flywheel rotates. When the lines are at the spots the flywheel is where the key, if present would have put it. Tighten it down there, being careful, etc.
two: Play the "timing game." Print out a "degree wheel" from one of the several sites on the net, tape it to something right size(CD, etc.) and round. Find TopDeadCenter, tape the degree wheel to the flywheel, with the 0 at TDC. Move flywheel rotational position to about a 28 degree advance (your mileage may vary - or play with a protractor to see what amount of advance was "built into" your flywheel). Then fasten down your flywheel to the shaft so that the thinner metal space between the two magnetic steel bits on the flywheel lines up with the not-grounded metal "shoe" from the coil (i.e. is at spark-firing position) Tighten, etc.
three: Fake the key. Super-glue a piece of relatively harmless something (thin wedge of wood, width of the former key, alcohol to clean - no oil) to the place on the inside hole of the flywheel where the key is now so nicely out of the way, leaving a little clean strip. Use magnifiers, etc. Have fun, maybe w/ tweezers to place the thing. When glue set, then gently lower flywheel in place, not putting so much push on the flywheel that you would mess up your glued object placement. Etc. Tighten very carefully, making sure...
four: Sorta fake the timing and sorta check where you are. Find top dead center, and figure out (pretty exactly) where "key slot for key on shaft "points" at that moment, marking that spot. (It is legal to make a pointer, the exact helpful length, with a nice clean straight line in it if you want to.) Then rotate the shaft (timing amount - 28? - degrees), marking, then put the flywheel onto the shaft with a marked location for the ex key location and while checking the spark-making features (flywheel / ignition module) for being where they should be. And tighten, being careful....
Or.... similarly invent in a way that makes you happy.
Reassurance... I and my friends have a few Husqy saws without flywheel keys that run well and we use often, including in situations in which the saws get "tossed about" a bit....