Hi James,
Along the lines of what Grant says, good flat fields would be very important for this to work. Otherwise the shifting position of the stars would introduce variability due to vignetting, dust motes, and any other variation in sensitivity across the image.
Assuming you’ve got good flats then I think you would get good results. You can check how well it is working by including a non-variable check star in your processing, to check that it stays roughly constant rather than varying.
Andy