I think Balmages just had a very definite idea of what the beginning section needed to sound like since there is so much exposure there.

I would have my student hold down the pedal at 67 for 2 measures at a time, which lines up with the changing chime pattern and brass chords. Then I'd just pedal to taste from 75 to the end.

That will keep the pedaling similar to what Balmages prescribed in the slow section where the vibraphone is holding it down until the chords change.