If you know the inductance, and you are well under the limiting value of the steady state current set by the DC resistance, I=L/(V*t). Solving for t, t=L/(V*I). Therefore if you measure the input and output voltages, you can compute t_on and t_off without needing a sense resistor (R3). t_on is non-critical if you are well under saturation and the MOSFET Id limit, but t_off needs a safety margin so you don't end up pumping up the current a few mA each cycle till the MOSFET blows.
Your safety margin here directly impacts the charging time and the max continuous output current, so a smarter chip that can calculate the off time on a cycle by cycle basis, using an analog computing circuit, or that can directly sense the output current if it has an integrated diode, or that has provisions for high side current sensing, can do better.
The snubber network R4, C4 is to damp the HF ringing at turn-off. Without it the coil will ring like a bell with its own winding capacitance. It doesn't show up much in this sim, but if you disconnect the A1 Q output and replace it with a voltage source set up as a fixed frequency PWM: PULSE(0 5 120u 0 0 6u 22u), and plot V(d) (MOSFET drain voltage), you'll see the difference immediately you zoom in.