I don't see why it would not work. Maybe laminate / fish plate it at key stress points? Probably not needed.
I was mainly concerned about welding a 3/4" D-ring to 1/8" steel, and then ripping them off during a hard winch pull or something. I'll just incorporate the D-rings into the 1/4" plate box that the winch is mounted to. Then like you say, a little bit of plating here and there and we'll be good

















