I look at it this way. If it was a feasible idea, then the guys who know stuff about bandmills would already have built one. Guys like Woodmizer, Baker, Cook, etc. Those guys either don't make edgers, or make circle blade edgers.
The stationary saw wouldn't be much of a problem, as you can use a fence for one sided edging. But, indexing a full machine may be the hard part. You will also need some sort of feed rolls, and something to hold the board down.