It's some time since I worked this, but I believe that the Eqs of motion for $\omega$ ${\bf p}$, ${\bf r}$ from the action functional
$$
S[\omega, {\bf p}, {\bf r}]= \int \left(\frac 12 I_1\omega_1^2+\frac 12 I_2\omega_2^2+\frac 12 I_3\omega_3^2+ {\bf p}\cdot (\dot {\bf r}+
\omega \times {\bf r})\right)dt,
$$
after the elimination of ${\bf p}$ and $ \dot {\bf r}$ in favour of the angular velocity vector $\omega$ gives the Euler equations for $\omega$ in the case $M_1=M_2=M_3=0$. A check strongly recommended as I posted a totally stupid wrong ``answer'' this morning, and am doubting my comptetence.
OK a check: The equations of motion that come from varying the vectors $\omega$, ${\bf p}$, ${\bf r}$, are (in that order)
$$
{\bf L} \equiv {\bf I}\omega= -({\bf r}\times {\bf p})\\
\dot {\bf r}= - (\omega\times {\bf r})\\
\dot {\bf p}= - (\omega \times {\bf p})
$$
Then
$$
\dot {\bf L} = -(\dot {\bf r}\times {\bf p})-({\bf r}\times\dot {\bf p})\\
= -{\bf p}\times(\omega\times {\bf r})- {\bf r}\times({\bf p}\times \omega)\\
= - \omega\times ({\bf p}\times {\bf r})\\
= - \omega\times {\bf L}.
$$
In the last-but-one step I have use the vector triple-product Jacobi identity
$$
{\bf a}\times ({\bf b}\times {\bf c}) +{\bf b}\times ({\bf c}\times {\bf a})+{\bf c}\times ({\bf a}\times {\bf b})=0.
$$
Writing out
$$
\dot{\bf L}+\omega\times {\bf L}=0
$$
with ${\bf L}= (I\omega_1, I_2\omega_2,I_3\omega_3)$ yields the torque-free Euler equations.
The idea of using Lin constraints to derive Euler's equations isquite modern. I think I saw this done in Cendra and Marsden "Lin Constraints Clebsh potentials and Variational Principles" Physica 27D (1987) 63-89.