yes it will work

its called deep water culture as you seem already to be aware...do a little search on it, i started doing it about a year ago(in buckets, not one big tank like you) and i will never go back...i just love it

if you have one big reservoir, it will not be hard to maintain at all...the only thing i can say initially is depending how big your tank is (cant tell from the diagram) you may need a few more airstones...one under each plant perhaps?


also you will need to black out the aquarium somehow, the roots/tank should not be getting any light