Hi Aran, thanks for your response.
My thinking has also evolved a bit and I'm now thinking we ought to exclude the new site until we're ready to cut over as @EGOL suggested.
The critical info I didn't mention before was that there is important client ROI and reporting reasons that we need to ensure that the current site continues to perform right up until the cut over, at which point the 301s will be implemented. The cross domain canonical would address the dupliaction, but would also start to depreciate the current pages prematurely.
The thing that I was underestimating before was the negative impression that the new domain would give Google when it suddenly appeared with 1M+ pages of duplicate content plus no real link profile of its own (until we implement the 301s)...all the hallmarks of a scraper.
Better I think to avoid this by excluding the beta until we cut over, and make sure we prep well for that.