Yeah, it should work pretty well. I came up with the same tactic some time back:
http://aurora2.pentarch.org/index.php?topic=5806.msg59633#msg59633You even have pretty good designs. The problem, I've found, is mostly one of cost. The engines on your design cost 160 BP. A carrier also costs about that for 1 kton of package. Compare that to ~80 BP of other systems on your design, and ~80 BP of missiles.
Halve the engine size and power modifier, allocate a HS each to engineering and crew quarters, ditch the launcher and magazine, replace the remaining space with 0.33 size launchers (only 6k RP, compare to 5k RP for hangar decks)...and you get 30 launchers for a boat that's 1/3 the cost. Plus you can use faster missiles. 0.25 or box launcher tech and you get even better results. It won't overwhelm fire controls, but when you're firing like 900 missiles a salvo that's not generally important.
It's a very cool trick, but it doesn't break missile combat. Practical application is mostly limited to MIRVs, which still have the slow first stage problems, and homeworld defense, where you don't need a carrier. Or if you desperately need to break a much bigger fleet's missile defense.
Fair warning: I'm mostly a theorycrafter, and I'm not sure I ever actually tested this design. But it should work.