Here's my thoughts: don't do it. :)

The sprinkling rite is a separate rite from the gloria, and there's even a prayer between the sprinkling and the gloria to make that even more clear.

As much as I don't like STTL, it does say:

150. The Gloria may not be moved to a different part of the Mass than the one assigned by the Roman Missal. It may not, for example, be used in place of the Entrance chant or song, or during the sprinkling with blessed water.

By the way, there's this wonderful gem I found in an old thread that bears reposing:

incantu, January 2009:

Let the pastor know that you'll be singing the offertory chant (with verses from the Offertoriale Triplex) during the homily. They should both be about ten minutes, so it will save even more time.

We used Springs of Water. Actually, the new translation, I Saw Water... I found the lack of an "Amen" at the end of the prayer after the Rite quite confusing. It was nicely harmonized, (I say that, but, being a teenager without the choice training of the MAs and PhDs here, my musical sophistication is less than fantastic :), though the verses were difficult for my child cantors, so I had to adapt another melody for those.

The USCCB's document on Sacred Music: Sing to the Lord