I am currently doing this. I can't say I would necessarily recommend it but as long as you have a good support system it is definitely possible. I recently started studying for the exams and sat for FAR on 1/5, so I guess I'll find out in a few weeks how its working.
Use it to your advantage, I took an “Accounting Theory and Research” course last semester that walked through a lot of FAR concepts on a higher level (as well as a lot of advanced use of the codification) which I felt hopefully helped with my retention of FAR material for my exam. I studied for a bit through the semester and then crammed pretty hard over winter break for my exam. During this semester I was taking 9 hours (3 courses), got married and bought a house, so it took quite a bit of discipline but if I passed this exam it will definitely be a nice confidence boost for the rest.
This past semester I also took an advanced audit course and I am currently studying AUD, planning to sit on 2/27. I took the course hoping I would have a nice level of base knowledge before I began my studies for this section..
This semester (my last) I am taking a Business Law elective course as well as a Corporate Taxation course. I plan to squeeze BEC in before the end of the semester and then hammer through REG after the end of the semester with the tax and law concepts hopefully in my mind.
I'm hoping this strategy is working for me as I start at a B4 in September and would like to have all parts (or as many as possible) passed before then. So… plan your courses to your ultimate advantage, make sure you have a very solid support structure and dive in. Don't forget you will have winter/summer breaks for exam studying.