I had a peek at the Pascal script for Delphi source, and it looks like it is already there.
It looks like it is set as a property of the compiler class, I'm pretty sure your dephi is better than mine but hopefull this helps to get it going.
In file uPSCompiler.pas (line: 1181):
property BooleanShortCircuit: Boolean read FBooleanShortCircuit write FBooleanShortCircuit;