Postal Service-esque Kirupa Music!

Well I was reading benFusions’ Post about a short song he made, and I got to thinking: there are probably plenty of talented musicians here, all with a great sense for technology and such. So wouldn’t it be neat to do a sort of postal service type of project? (For those of you not aware, the postal service is a band formed of Ben Gibbard of Death Cab For Cutie and… I don’t know the other guy, he’s from DNTL I believe… anyway, DNTL guy would write music, send it to Ben and Ben would write lyrics, and so on and so forth, until they had a full cd; hence, the postal service).
So, we could do it like this: the songs are limited to 5 (more? less?) contributors. Five people jump in, saying they want to make a song. Then the first to have jumped in, begins it. Does something, not a FULL song of course, but maybe the beginning or something. Then we simply go in order of posters, each one adding there little bit and then reposting it. I would be happy to host the songs as I’ve got not much happening with my site lately. The posters could add anything they want (nothing offensive though; this IS STILL a Kirupa project :)), but lyrics or anything.
Then we decide when the song is done, and open up a new song, so five more people can jump in. Maybe have songs going concurrently.
What do you all think? I think it would be fun and really interactive. We just would have to keep it orderly and make some solid rules.