Amazing if you could pull it off. It would take some serious work to do such a thing I expect.
The upcoming cloth tools may make it easier due to the fact you can paint the cloth sim on the material slots in the skeletal mesh editor, however I’m not sure how you’d go about making the clothing pattern editor, creating the clothing mesh parts (each clothing section would need to be rigged in order to paint cloth sim) and then stitching it together whilst on a character mesh…
Would be a serious tool though. I’d definitely be interested in such a thing.