Don't have enough knowledge/experience to be able to comment on it more in detail.

However, one thing. You know that the fast turning on/off of power to/from the windings puts an extra strain on the coils? It's the reason that induction motors that are to be used with a Variable Frequency Drive (frequency control) use wire with extra strong insulation. These motors are also known as 'inverter rated', IIRC. Normal motors are intended to be used with sinusoid-AC, which is much more 'gentle' to the motorwindings.

Using this scheme with coils that use a low insulation rating could lead to problems, over time.