Your idea is similar to some methods Mel Disselkoen has developed and published articles on. See mdasplitter dot com (I am too new to post live links) - articles on splits and nuc management for increases and On the Spot Queen Rearing (OTS) are in PDF.
As a newbie, I found some of the articles a bit confusing as Mel refers to nucs when I think he is talking about 8 frame boxes. Probably a matter of semantics as splits do start out as nucleus colonies and are grown into full size colonies. Extra queens are removed and the "nucs" are all combined into one very large colony in time for the main nectar flow.
Bottom line is that yes, your idea should work. The larger a colony, the more "extra hands" there are. These extra hands busy themselves with making extra honey. Mel says that one can up to double honey production by building these large colonies.