SD Solo 401k Strategy for a consulting gig??

Hi Mark and Mat, love the show and have learned so much from you two!!  Here is my situation and question – I have a 1099 consulting gig that pays around $50k per year plus I have a regular W2 job that pays above the FICA threshold.  I want to put away as much of the money from consulting as I can in a retirement account.  Would the strategy of using an S-Corp to open a Solo 401k account and run the consulting business through it work for me given that most of my income comes from W2 wages?  What would be the best strategy to maximize funding a retirement account?  Thanks!!!