Was there ever a P-39 with a gross weight of 5,500lb? Not sure that any of the prototypes even reached that mark.
All your arguments for throwing away armour, IFF, moving radios, ditching guns, etc, only brings the weight down to 7,150lb to 7,250lb according to your estimations. What happened to the other 1,600+lb?
Perhaps if you throw out all the armour, all the guns and ammo you may get close. But what use is that?
Also, since you are arguing that the British should have had the P-39 without the "extra weight", the IFF should definitely stay. Because the British had radar and their aircraft had IFF.