No. The hardware limit of an address register is 4GB. That is because each bank has 4GB in it.
Or another way to say it is:
There is only 4GB of directly addressable RAM but 32GB of indirectly addressable RAM. You remember bank switching from the C64 and Intel days, right?
Who says there are only 32 address lines?
You are forgetting about the 3 lines that select what bank you are in.
Motorola thought waaaaaaaaaaaaaay ahead.
Wait, are you referring to FC0-FC2 function code pinouts? They aren't for "banks" in any conventional sense, they are used to indicate to any external hardware that cares (eg external MMU) what class of memory access is being made.
From the 68K documentation:
0 0 0 (Undefined, Reserved) *
0 0 1 User Data Space
0 1 0 User Program Space
0 1 1 (Undefined, Reserved) *
1 0 0 (Undefined, Reserved) *
1 0 1 Supervisor Data Space
1 1 0 Supervisor Program Space
1 1 1 CPU Space
* Address space 3 is reserved for user definition
I don't think you can arbitrarily hijack them for your own nefarious bank select *especially* on processors where the MMU is already on board.