In general, yes, that approach could work.
It is critically important in such a design that all attachment points are stationary relative to one another. If you attach through the axle you'd want the clamps on the lower parts of the fork that move with the wheel, and not the upper part of the fork that is stationary with respect to the frame.
This might sound pretty basic but the consequences if you didn't do that would be catastrophic to the rack and the fork, probably in fairly short order. I certainly wouldn't want to ride a bike so equipped and I don't think anyone would (or could) ride such a bike for very long before it failed.
This rack mounting system, sadly only available in Europe, is pretty much what you'd want except for a porteur rack rather than low-riders. The Old Man Mountain racks were a similar design (but seem to no longer be available).