OK, I think I found a solution that should work in theory. Apparently, I don't need to create a cron job at all. What I need instead is to create a plugin with my PHP code. I'm posting here for anyone searching for a similar solution.
Instead of a php script, all I need to do is:
1. "Add New Plugin" from the Admin Control Panel
2. Choose Product as "vBulletin"
3. Set the hook location to paidsub_complete
4. Enter the PHP code directly into the "Plugin PHP Code" text box
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