It would work very well the way you describe.
I have been using the inverted whoopie suspension for about two years now, and I find the set-up super easy, and there are a couple advantages to this system. I don't use a biner or a clip, I just feed everything through the sewn loop on the one end of my strap. So the only hardware I use is a dutch whoopie hook.
First with the continuous loop on the hammock, when you attach the whoopie hook since it is under the tarp it functions as a water break.
Second and just equally valuable, I can take down my system (other than the suspension attached too the tree) from under the dryness and protection of my tarp.
Formerly known as "Cranky Bear"....
"yesterday is history, tomorrow is a mystery, but today is a gift---thats why its called a present" - Master Oogway
It's always best if your an early riser!
I like hiking as it's like exercise!