Pulsed Eddy Current (PEC) sensors possess proven functionality in measuring ferromagnetic material thickness. However, most commercial PEC service providers as well as researchers have investigated and claim functionality of sensors on homogeneous structural steels (steel grade Q235 for example). In this paper, we present design steps for a PEC sensing set-up to measure thickness of cast iron, which is unlike steel, is a highly inhomogeneous and non-linear ferromagnetic material. The setup includes a PEC sensor, sensor excitation and reception circuits, and a unique signal processing method. The signal processing method yields a signal feature which behaves as a function of thickness. The signal feature has a desirable characteristic of being lowly influenced by lift-off. Experimental results show that the set-up is usable for Non-destructive Evaluation (NDE) applications such as cast iron water pipe assessment.