I agree wtth Marc. On my tank the bulkheads were threaded inside and out side. I tried doing the same thing as you until I realized that they are meant to have the pipe go inside the bulkhead, not outside. That may mean having to re-plumb that closed loop down to 1" or whatever the inside diameter is, but, I think it'll be worth it not having to worry about the silicone failing.
Dave
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