If you do ignition retard on a turbo motor the exhaust heat goes to "melt the exhaust valves" hot pretty fast! That is actually one way of eliminating turbo lag, when you step on the gas the ignition goes big retard for a few milliseconds and the exhaust heat goes skyward and the turbo spools up real fast. Can't do it long as I said before the exhaust valves will exit thru the turbo in liquid form.
If you do some sort of traction control, it has to be a combination of several systems, one that can be fairly instant, like applying the brakes,(the top fuel guys did this before NHRA outlawed using the onboard computer to interface with the car controls, they actually had a seperate set of calipers that were only for keeping the wheels from spinning.) one that at the same time kills power, ign. retard(not good for above reasons) or maybe killing some of the cylinders, or backing off of the throttle etc. It can get pretty complicated pretty fast maybe a well educated right foot on the driver is the best start.
Rex