Should work fine. Similar to the "calorifier" setup used with hydronic heaters.
http://www.xor.org.uk/unimog/mymog/heating.htm
Note how he set his up to make the air rise to the top for easier bleeding of the heating system.
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Current: 76 E-250, bubble-top, self-contained|couple of old Yamaha enduros
Previous wheelers: 41 Willys|78 FJ40|78 Bronco|84 Bronco|74 Ramcharger|78 Ramcharger|79 D150 PowerWagon|77 D100|79 D400 dually, converted to 4WD, utility bed, 10' Lance|75 Westy|69 Scout, RHD|bunch of others|bunch of bikes|couple of boats|couple of motorhomes|blah blah|so what|not my idea|just doin' what I'm told|wank wank|this space for rent|candy is dandy|but liquor is quicker