Don Leslie actually tried a bunch of different configurations, and settled on the rotating drum and horn assembly that's become a part of history. A lot of manufacturers have tried alternative takes on damping a speaker with some kind of rotating baffle, including Yamaha and Roland, and none of them sound anything like a Leslie.
In short, what you're proposing may well sound interesting and cool on guitar or keyboards as a special effect. If your goal, though, is to simulate the lush, throaty sound of a Hammond through a Leslie, don't try to simulate. Go for the real thing, or something from Motion Sound, or even the electronic simulation onboard a Nord Electro 2, Hammond XK3, or Roland VK series organ.