Why do we have to know how it works to be able to call something physical? That seems backwards; we should assume it's physical until we have reason to think otherwise. Which we don't. Being not yet fully understood does not make things immaterial.I don't see turning the conscious into a physical thing happening until some one can explain where thoughts come from. Now the method that you have prescribed may be able to predict and catalogue behavior, but I see it doing little to explain that behavior or nature in a way that takes it from the "unknown" into the known.
Even if we could eventually stop the ongoing process of thoughts appearing, what have we accomplished? It would seem we would have lost something. Not gained it. If we could come up with thoughts on our own where would we get new thoughts to send to ourselves?
We also do have some knowledge of how it works. Not the whole picture, but neuroscience is not without merit. We have some idea of how neurons work, and some idea of how that might lead to the more complex behavior of the brain as a whole. And we have knowledge of other things that are made up of as simple components that can do as complicated things.