I've plugged holes just like that (and even a few closer to the sidewall) on performance tires many times, and had the plug hold up fine for months until I got around to having a tire shop patch from the inside.
Most tire chains won't do it at all (plug or inside patch) because they have strict rules that don't let them do any repair work within X inches of the side, but really it's pretty safe to do so IMHO. I think repair shops exaggerate the issues (and the width margins to the sidewall) just to do more business in replacement tires.
If they were really trying to be rational about it, they'd at least look at the margin to the sidewall as a percentage or something, instead of saying the same 1 or 2 inches applies equally well to 165/55R15's as it does to 305/30R18's :P.
If you were racing those tires on a track, maybe I'd be more worried and want a professional's opinion on whether it was safe. Otherwise just plug it and go. Don't pull the nail until you're ready to plug it, and follow the plug kit's directions. You can pick up the kit at any auto parts store.
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