I coud see something like that working, as well. I'm likely going to run 2 catch cans in an effort to minimize the oil getting into the intake tract. A bit overkill- maybe, but it should work pretty well.
One there next to the turbo to catch the main stuff, then pass through to the fender and run through either a copper or AL pipe to try and cool the gases down, then into the 2nd can and into the intake. I just cleaned out my IC piping and it had a film of oil on it, where it had never had that without the vent. Catching a lot of water, just not much of that hot oil.