This sounds like a really good idea, and i would absolutely participate in one of those. Would be nice to be in a tournament that didnt last 6 months.
Quads

I had some quads set up recently just like that. 1 day/move, fast players, both games at once, some had rating restrictions. I had some interest at first but then the last two just sat there with no one entering. I'd be happy to start them up again.
I think there must be a lot of players on chess.com that would like to play in a tournament that would start and finish in say one month or even less time ? My first otb tournament was called a " quad" and in the early 70s quads were quite popular. You split the players up into groups of 4 with ratings as similar as possible. Then they play a roundrobin ( or double roundrobin might be better in this environment while not practical in otb) , the winner of each quad is a winner and the tourney is over. To speed things up here you might limit time to 1 move / day and also only let people enter that have fast move time average. Another thing is tie breaks if necessary. I think if two players are tied ( more than 2 in a quad is very unlikely ) the game between the tied players should decide, if they drew then the player with black pieces in that game should get the nod ( unless black is higher rated by say 200 or more points in which case white wins on tiebreak) . I would very much like to play in such tournies if you do decide to have them in the future. If such tournies already exist here I am unaware of them and hope someone will inform me immediately !