What kind of overflow are you talking about? If it is the PVC constant level siphon then, yes, theoretically, it would work. Practically, the siphon height of the overflow would have a 'stronger vacuum' which would cause gases in the water to come out of solution and form a bubble in the tube which would impede and could eventually cut off the flow.
You might be better off having the tank drilled at the level you want the water to be at.
Aquascape? I'm a crypt farmer.
It's a fine line between fishing and standing on the shore looking like an idiot.
That IS an aquascape, it's titled "The Vacant Lot".