Murphy also didn't write the OJ miniseries, which is why it did so well- for whatever his talents, he is an awful writer.
As for this, I guess it could be fun, but why not just cast drag queens? Ultimately, that's what all the women in a Ryan Murphy production end up being anyway.
I am a firm believer in serendipity- all the random pieces coming together in one wonderful moment, when suddenly you see what their purpose was all along.