Well, as far as whether it's a good idea, that's totally on you to decide

Guaranteed there'll be people that think it's a horrible idea. Also, this may not be a concern for you, but customizations like this will affect the resale value of the car too, and they rarely do so in a positive way.
I've been playing with the idea of reupholstering my seats too, and one idea I'd pose to you is to buy a driver's seat from a scrap yard and try on that so you don't end up without seat. Once you've got the hang of it and know you can and want to do the rest, you can pull them out one at a time.
Let us know how it goes and what you come up against!