If you cannot find suitable plywood locally, the basswood will work. I have used 1/8" basswood for firewalls on a couple planes running the 2212 motors. For the larger motor you have, I would either use 3/16" or 1/4" if you can find it. You could always laminate two layers of 1/8" bass with the grain perpendicular to each other essentially making your own 2-ply plywood as well. For this size and performance of plane, that would be plenty strong.
Just make sure you drill pilot holes for the motor screws. If you try to screw into the bass without predrilling it, it will likely split. What I like to do there is to drill a pilot hole, insert the screws, remove them, then harden the hole with a drop or two of CA. Once dry you can reassemble it for good.
With that said, for the distance you are looking to space the motor out, I would just grab some nylon spacers from the hardware store and some bolts with blind nuts. I have done this on several glow-electric conversions. The little bit of added weight will not be an issue.
This is the install on my foamy Kadet. This is an 1/8" basswood firewall with the motor mounted using nylon spacers. Firewall survived 2-1/2 years of aggressive flying and was only broken on impact (at full throttle

) following a midair.