I don't understand what advantages it will have in stability. The reason why hookahs get knocked over is because they are top heavy. You solve that problem with a larger base.
Problems that will occur, probably.
a. Melted Acrylic. Definitely will melt if you
- chose to use a phunnel bowl
- choose to use a windcover
b. bitch of a cleaning with juices running down the tube.
c. it not very pretty to look at.
The condensation might not really effect it but put out the coals. But then again it might just keep it dry with all the heat.