I like the idea

As far as using this as side art, you would have to vectorize it. If you want it to come out really good, I recommend finding a print of this and having it scanned at a very high resolution. That background, as HarumaN posted, is going to be difficult to vectorize along with the Godzilla. You will need to separate the image into 2 parts in photoshop and vector your background and Godzilla separately.
Here is a very rough pass in illustrator.