Campaign's secretary Tony O'Brien said 10,000 leaflets would be distributed at sites across the country to encourage workers to take part in the parade, which will take place on 28 April.
He said that he hoped the parade would be led by relatives of O'Sullivan, who fell to his death on 15 January.
O'Brien said: "We are looking to march on the site and lay a wreath; we will probably contact the Wembley management and ask for work on the site to stop while the ceremony takes place."
O'Brien said: "Wembley is a place where people have happy memories and celebrate life, so it is fitting that we should remember the lives of construction workers killed on site at this landmark building project."
O'Brien said he had also contacted the Professional Footballers' Association and asked if it could arrange for a well-known footballer to join the march on the nation's football stadium.
The Construction Safety Campaign will be holding a meeting next week to formalise its plans. O'Brien said that the organisers wanted to try to do something different from last year, when a horse-drawn carriage and hearse went on a march through the City of London.
It is understood that the main construction unions, the GMB, UCATT and the T&G are supporting march, and that the two full-time union convenors on the Wembley project will be helping to organise the events on the day.