I really doubt this would work.
As a standard wireless interface only has ONE RF unit in it, it can only on one frequency at the same time.
So while it should be possible to switch frequencies and do what you propose: While the wireless interface is in "TX mode" on frequency A, it won't receive any data that might come in on frequency B from a CPE.
This could probably be fought by doing some form of time synchronisation, but then you're effectively back to the first solution you quoted.
So in short: I don't think this is technically sensible.
(Open for being proven wrong