It could work for sheet film, but would be difficult to roll smaller films at 1cm thick. You'd then need a MRI or cat scan machine to unlayer it. You would certainly need computing power to isolate the layers unless they came apart physically.

You could do it with a glass negative (one layer on each side), but would probably get too much scattering as light passes through one emulsion, onto the other side of the glass and back again. If it did work, you could put IR on one side, and visible or blue on the other side.