That is a good approach. What you are describing is a delegated restarter in SMF teminology. You can choose to expose your delegated services to the smf framework or not (doing so would be so cool). You can also look at svc.startd and inetd source for some other templates.
When I teach my SMF class and there are developers we whiteboard such an architecture using cron as the example. But it stikes me that your case is quite similar. Most of the attendees are architects (love the concepts, hate the details) or admins so we don't do that exercise often enough :) bob