You could save only the first 1 and half minutes of your video as either a rendered track or as a new .veg file.
You can then place either of these items in the new position in your older project, either as a piece of rendered footage or as a nested .veg.
someone gave me the simplest fix that I am amazed I'd not figured. The envelope points won't stay connected unless you drag on the same timeline (rather than what I was doing....grouping then cutting and pasting). so I created an empty event and then grouped ...then dragged the first area behind the second....some minor problems but not a whole bunch. Your way, however, is also very good!