You have directionality reversed in the IPA. The IPA symbol ɲ represents a particular sound. (That A in IPA stands for “alphabet.”) But you can’t go the other way from how the word is spelled to how it is pronounced.
Now, the word I’m wanting to represent as gno in our alphabet is pronounced /no/. In IPA, it is written, simply, no. The IPA for know is the same: no, as its pronunciation is also /no/.
Well, maybe in Baaston.
I don’t know if you’re serious or not, but it would be silly to change the spelling of an English word with a pedigree going back through Old English, Proto-Germanic and to Proto-Indo-European because we borrowed a word from another language that, itself, goes back to the same PIE root, but that has changed spelling along the way before it came into English.
I’m not into diachronic linguistics.
Well, I guess when you get elected English Spelling Tsar, you can change it.
I have thought about running for that… 
And then I think I’ll make it Czar. No, Tsar, I actually like that better.
If you get elected, can you fix “exaggerate”? I want it to have only one “g”.
You got it! I’m going to wipe out all those i’s after e’s, too. Or is it… e’s after i’s? And no more c clause on there either.