How long will it take to be good enough to get a job? If you are already a senior-level developer, with experience in a functional language, you can probably get hired without any experience at all. Otherwise, you probably need at least a couple months of getting familiar. Publishing an open source library as a means of demonstrating your skill level, and that fills some kind of niche, and allows you to get a feel for the conventions and tooling, is well worth the investment in time IMO. Someone really passionate about finding a job with Elixir could probably get up to speed in just a couple weeks, enough to be productive enough to contribute as part of a team - but that would be basically spending all day every day building something, reading a book like _Elixir In Action_, and actively asking questions on the ElixirForum, IRC, or the Elixir Slack channel.
I think its very doable, but you'll always be at the mercy of who is looking at the moment, and what they are looking for.