That's an interesting idea of a security breach.
In practice it's going to be difficult because:
1) You can't do effective geolocation on cell phone IP address, except perhaps at a country level [1]
2) Your ex would need to open your message to trigger the link preview loading. If you're stalking them, they're probably either ignoring you or blocking you
3) At most, if the ex is connected to a Wi-Fi network like Starbucks and opens the message, you'll be able to get the city they're in, maybe.
But at the end of the day, what you'd get from link previews is no different from embedding a tracker image in an e-mail. And while it requires someone to suspect they're being stalked, blocking would prevent all of this.
[1] http://www.cs.yale.edu/homes/mahesh/papers/ephemera-imc09.pd...