We do not have the amnesty clause - it needs to be used during the off-season.
And we don't have cap space - Gray was signed with part of the regular MLE. Using the room MLE isn't even possible until you use your cap space, so what that article says seems to be impossible. We can renounce all our cap holds and thus have cap space, but since it clearly isn't enough to sign him to anything, it's moot.
Now here's an idea. Barbosa to LAL for TPE and their first. Renounce TPE and all other cap holds - that gives us an additional 7 million in cap space - enough to sign Chandler to a big offer sheet before March 1. Can't do a S+T, so it just comes down to whether Denver matches - I bet they don't.