1. Create a boot floppy with the necessary dos drivers and mountlist to mount your Zip drive.
2. Install Workbench on a Zip disk
3. Modify your boot disk so that in the startup-sequence, the first thing it does is mount the Zip drive, then reassign C:, S:, L:, LIBS etc etc to the corresponding folders on the Zip disk.
4. Put the zip disk and boot floppies in the drives. The floppy will transfer the system folders to the Zip disk and then should boot from that.
I haven't actually tried this, but it should work. If you need help with the assigns etc, have a look at a 3.5 or 3.9 Emergency Disk as it does exactly the same thing (reassigns the system folders to folders on the CD).
HTH
Mark
--EDIT
Just for clarification, you can't boot directly from the Zip drive. The only way to do this would be to modify the kickstart ROM to include native support for Zip drives.