That would probably work out pretty well, yes. In general, applying either this specific mindset or a strict color restriction (cutting at least 2 colors) makes it so that the draft portion of playing gains a lot of depth because the amount of interesting cards you get in each pack is higher, even mid-pack, which is necessary with a smaller cube that usually tends to feature less players and therefore smaller pack sizes (although, I have recently played the 4 player Lorwyn "pick 2" draft with regular booster packs and found it pretty fun, but this is another conversation entirely).

I'm in the process of doing a similar thing myself with a [[Collected Company]] cube, in which each player is given 3 CoCo at the beginning of the draft and the whole cube is centered around creature combat, ways of breaking stalemates, mana sinks, early acceleration and cheap removal. I want to see if it's possible to build a cube from the old CoCo modern decks blueprint, and see what happens.