Knit to fit

I had an idea tumbling around in my head and I'm trying to figure out if it would be worth it to put it into effect. I'm thinking of starting a knitalong where you knit the next size down from what you usually knit, while the same time adhering to a diet/excercise program so you can indeed wear what you're knitting. Sort of like weight watchers meets a knitalong. You wouldn't need to pick a specific project, hell you can even use a pattern that you were going use for another knitalong. No harm in being in two knitalongs! There would be a communal blog for us to post our diet/excercise/knitting progress and to encourage each other to our goals. There would be no specific start date, and no specific end date for anyone. You set your own limits.

Does this idea sound retched and insulting, or does it sound like something feasable? Everyone's input would be greatly appreciated.