You're not going to get a Meteor engine any earlier than OTL. That's a state of the art engine and the Air Ministry won't let them go. Like it or not without massive hindsight the Nuffield Liberty is the most likely engine to be used in an early war tank, simply because there is a large effort being put into getting it into production already.
It would probably initially be armoured to roughly the same level as the Crusader, which would keep the weight down and help with not overstressing the engine. All this can be upgraded later as better engines become available.
Wasn't necessarily meaning the meteor but it's not impossible, in somevways it's actually quite feasible.
More that an aero derived engine will be used because Nuffield isn't involved (thankfully). As for armour Carden has already shown plans for a tank with 80mm+ frontal armour. Given he is designing this as a response to the infantry tank specification that level of armour is a must.