Nice video, gives a good overview of the steps one will need to take.
However, I must opine about potential safety issues.
I do not recommend that you hold the chip in one hand while using a blade of any type to scrape/poke/peel off a vinyl label, even if it has been pre-soaked with nail polish remover. Use a cutting mat and rest the chip on the surface. Stabilize the chip with one hand while cutting away from your body with the hand that holds the blade. This will minimize (but not eliminate) the possibility of slipping and cutting yourself. Do it in a stable surface where you have good lighting.
My alignment preferences can vary. If I'm doing a small amount of chips (1 rack or less), I'd probably just do random alignment on both sides. If I'm doing large amounts, I split the chips into 2 batches: 1 batch I will do randomly, and the 2nd batch I will do a variety of alignment based on hat/cane orientation between each side.