I think I figured out my (hack) way from watching this dude:
The trick is the 16th note rest that begins it - and you need to do the hammer-ons fast enough. I turn on the chorus for some melodic runs during the section before that and hit the the octave pedal on the rest.
IIRC, when I saw PS live many years ago the bassist (couldn't tell who it was) used fingers throughout the whole song with exception of the break which he popped unlike this cat on the clip..
