For anyone else who immediately thought, "I've gotta try that!" and hit compilation errors: there appears to be a more maintained fork at [0].
And if you're on a 64-bit system, you'll want to make sure it finds the 32-bit libc and libm binaries (see [1]). On Arch, the following worked for me:
./build/movcc -L/usr/lib32 test.c
[0]: https://github.com/xoreaxeaxeax/movfuscator