I would say you need to re-define the problem.
What he means is "I want this to restrain a tire/rim combo that blows apart at 295 psi". The impact force of a split rim on the wire mesh could be a lot higher than that. The gas pressure would be a lot lower than that. The 295 psi comes from the requirement in 29 CFR 1910.177 about 1.5 times the maximum pressure, which is shown on the drawing as 195 psi or so.
I don't know that you can get a fool-proof approach to this without a lot of testing. You can come up with some estimate of the maximum speed of a wheel or a split rim or a wheel-tire combo if it blows apart, and design to absorb that much energy from the impact. If the cage fits close around the tire, you could possibly assume that the tire blew out against the cage on both sides and design for that static force as an additional load case. If a tire blows out (as opposed to blowing off the rim), the whole assembly could jump straight up or to either side. I would think that the customer would need to either pay for a bunch of testing, or accept some or all of the liability for the design of the cage. It would be prudent to look at commercially available cages, too. The successful use of the cage involves using it properly, and is not just a structural issue. (For example, have any part of your body inside that cage at the time, and it's liable to be missing, even if the cage "works".) If the rims or wheels are in current production, it might be worthwhile to try to see if those manufacturers have any recommendations on cage construction or use as well.
Note that tires of the same general physical size can vary considerably in weight based on construction and load rating. Note that wheel/rim parts can vary in weight as well (budd vs spoke, 1 pc/2pc rims, etc.)
I would consider grating or plate rather than expanded metal in the construction. If it's supposed to be portable, that could get tricky.
Long ago, I worked in a dump-truck company and did a lot of flat-fixing, and all the wheels were split rims. It is possible for these things to blow apart, and is a serious concern, but it's not something that happens twice a week either, so that makes it harder to have a good feel for the effects.