I think the hugest hurdles are:
* Motorola 68EC020 @ 14 MHz
* AGA graphics
But there is both an 68030-alike CPU- and AGA-core. It's an A1200 more or less. That leaves the CD emulation. But that is likely easier than the existing harddisc emulation.
So it's very likely doable, but I don't think there exist any code for this setup. But reconfiguration of existing code and adding CD-emulation should do it.