My stock Lehman has a 4psi radiator cap. At 4 psi, water boils at 225F. With 1:2 glycol/water, the boiling point is 230F. If the mixture boils, the entrained steam greatly reduces cooling and the boil-over shoots into the bilge with the stock system or into and expansion tank which then overflows into the bilge. A higher pressure cap increases the boiling point (with a 12 psi cap, the coolant would boil at 253F).
If the cause of the overheating was momentary (i.e., the plastic bag washes off of the raw water intake), then the 20 degree delta provided by the higher psi cap may save the day. If not temporary and ignored, the boil-over is 20 degrees hotter, more violent, and takes longer to cool.
The expansion tank can save cleanup in some cases, but if protecting against overheat is the goal, a warning light/buzzer set just above the thermostat rating would be the better improvement. I've seen the ohm chart for my Stewart Warner temp gauge, but I don't think I've ever seen a warning light that would work with the same sender (adjusted to activate at a certain resistance).