Unless you know the distance from the transmitter to the target, the results will be inaccurate. Even if the transmitter is synchronized to an absolute time standard.
Radar specialists, I won't be hurt if you correct me..
For $16 cost some inaccuracy may be tolerated perhaps?
You can read more on underlying principles and mathematics from his PhD theses over here http://www.sgo.fi/~j/intro.pdf
There is another interesting experiment on building a radar image of lunar surface using UHF transmitter at 32 cm wavelength.
Not every ham has access to 2 MW transmitter, though