Would take someone with above average level of intelligence to submit a proposal to AFL to get the funding for a start. No one at the VCFL or the leagues will have the inclination to do it. I also highly doubt that you could get enough in sponsorship. To ensure you get the full strength sides you would need to offer each player a big financial carrot to attend. If the sides aren't full strength it will turn into a joke.
I love the idea though dont get me wrong!
yeah it a great idea, games could be 2 20min halfs, however mnetioned previously would want strongest teams going, fielding their best sides.....IMO most teams would use this as one big piss up for a week/weekend, much like the uni games