I don’t believe it can work. Parties with ideas more popular than the Democrats or Republicans have cropped up many times in the past, but have never won in large numbers or in a way that lasts primarily because:

• The electoral system in USA is such that 3rd parties cannot gain traction because in a “winner-takes-all” system, there is no possibility of partial wins so the new party can’t ramp up.
• Election wins rely almost entirely on name recognition and popularity, which takes much more than one election cycle to build. Democrats and Republicans have a 250-year headstart on their media apparatus; villagers in huts on remote islands even know of those parties.
• Propaganda has lead to constituents regarding their party much like their religion. They often do not take lightly the idea of voting outside of their party.
• US federal politics is not financed publicly and takes a constant fortune to maintain. Our campaign financing laws have been gutted, and the remaining ones have little enforcement, so now even one rich guy can finance a pet candidate while other candidates have the pound the pavement searching for financing, and need to make a solid sales pitch for each dollar they get. Investors do not like uncertainty, and they like consumer protections and taxes even less, so the people that have the money will not finance the people nobody’s heard of or they think might implement those things on them.

So, if you want to actually win and make a difference without being in one of those parties, you have to conquer them then say you are them.