This could potentially work very smoothly, or just as well may horribly blow in our faces, it's a risk as anything dealing with groups of people can be I suppose.
My biggest concern would be OOC authority crossing into IC field to dictate choices.
I would suggest to attempt this with only a couple of factions at first, probably Republic among them, they may be experiencing a bit of turmoil right now among the Jedi ranks but the Republic leaders, as in Grand Chancellor and Senators, are supposed to be voted in and go through elections ICly. See how that goes, if it goes well then great, we can spread it to other factions, if not, less damage to manage.