I have used the Kevlar trans blankets, draped over the interior side of the trans tunnel. If heat is a problem inside the car, that can mitigate some of the heat.
If you are fabricationing your own, insure you have enough width, front to rear, to allow for bouncing/ricocheting shrapnel protection. Allow more width protection than just covering immediately over the revolving assembly. Possibly including more than a 2" inward angle bend at the rear.
Design it for a hand grenade level of protection. They usually blow at high RPM's. One of the engineer types can compute the explosive power, something like mass X RPM X diameter with something squared for affect.
I had to dodge a transmission bouncing right front of me. It dropped out of a small car when everthing went bang in the bellhousing. I avoided both the car and big parts.... The bell housing went away, and the drive shaft continued to add top gear speed and torque motion to the rear mounting pad of the trans. It will take your breath away, watching an ungodly amount of activity that close!