Yes, some solution like that would help i believe. Even though that I'd say that what would be the most practical solution would be to use off the shelf solutions.

To fully give the wrists freedom of movement why not look at the knuckle controllers that Valve are using for VR at the moment.

Or why not gloves that can measure finger positions.

Bandwidth wise it should be possible. As a glove ought to have a 1:1 mapping with the data output of the hand..