Well, it might work locally but if you institute a system like that nationally, regions like BC and Alberta will have even less of a voice in Confederation as the dense population cores of Ontario and Quebec will dominate the number of federal MPs even more than they do now. It might give the Caribou or Shuswap more say in Victoria but the shear weight of numbers in the populous "middle" east of the country will swamp you. Rep by Pop is an even worse idea than First-past-the -post in Canada.
It'll cut those sons-of-bitches on PEI down to two seats from four, though. That'll help the West ... somehow ... don't see how, though.