Free-For-All map?

I was just thinking about how a free for all map could function. I think it could also serve as a quick way to earn IP. Imagine, if you will, a map much like Summoner's Rift but much larger, and without turrets, inhibitors, or nexus's (nexi?). It would work out to be a massive jungle map. Have a max of, say 50 players at a time. The way I envision this working, is as a constant battle for supremacy, players dropping out as they die, with a certain amount of time before they're allowed to reconnect, say 20 minutes, paving the way for other people to get in. One would earn IP for a variety of things, such as time spent alive, buffs taken, dragons slain, level reached, and kills. I think this could be a very fun way to earn IP without it feeling grindy. Plus, Imagine the sheer feeling of epicness if you get to the point where you've maxed out on all the dragon, red, blue, baron buffs, Everyone ganging up on you to try and take you down. There could even be an IP bonus for being the top ranked player when you die. It would also be a good way to learn how to fend off ganks, as you will likely not be facing 1 on 1 duels, more like 1 on 1, then someone else jumps in, then another, then Teemo's mushroom comes out of nowhere and takes down the lot of you.

So, what does everyone think? I would certainly go for something like this. any other ideas or suggestions as to how this could work?

Edit: Just as I was reading over this, I thought it could also award you extra IP for taking down the highest ranked player, which, basically, paints an even bigger target on their head

Edit: Wait, what if it actually painted a target on their head? Gave everyone else on the map vision of them? Unless, of course, they're in a bush, stealthed, etc.