Arcana Evolved called such a thing an Articulated Harness, so yes, I do think such a thing could be gotten away with.
Edit: Also I spent 2 hours last night working on a new set of armor that actually takes advantage of its maximum bonus slots across the board (hint the current set doesn't do that, and leaves them somewhat imbalanced), and got it mostly done, but wanted to give it a once over when it wasn't 2:30am to see what kinds of mistakes I made before posting. Wake up today, and the file I was working on is gone, eaten by a random windows update.