I think Linux will have to move to a microkernel architecture before this can work. Once you have separate "processes" for hardware drivers, running two userlands side-by-side should be a piece of cookie (at least compared to the earlier task of converting the rest of the kernel).
Will be interesting to see where this goes. I like the idea, but if I were to go in that direction, I would choose something like a Genode kernel to supervise multiple Linux kernels.