So lesson learned... Removing the spare tire from the trunk and setting a gas can on the bare metal=not such a good idea. Singed gas can, crisis narrowly averted.
Picked up a galvanized metal pegboard 16x16 and some White Lightning flame buster high heat silicone. Voila heat shield in 2 mins. Looks pretty badass too.

 

pics...

Next step cutting the particle board down to size and the carpeting(felt) in.