While it appears the processing requires more hardware than cell phone cameras have, the basic technique is widely used in astronomy.
http://www.mrao.cam.ac.uk/telescopes/coast/handout.html
(In terms of what each sensor can do, so it is still a problem after you solve the alignment problems inherent in a million snapshots)
Clearly you'd need a significant chunk of computer power to post process that data. But it might be interesting.
I did want to see what the state of the art was though, and they use rigid steel on concrete foundations and "path compensation" to deal with the alignments problems (quotes because I am quoting from outside my vocabulary...).