Absolutely this kind of thing has been done before, and I always love seeing it done.

Gorkamorka was practically Mad Max with Orks, especially with the fort scenarios - direct inspiration from MM2, no doubt. They said as much themselves when the game came out.
Indeed Deffkoptas (Dregmek Blitzkart) first emerged there too, and I'm convinced it was as a direct result of Bruce Spence's Gyrocopter Captain character from the film.
Back in the day I stopped by
GW Derby once, and noticed someone had done up the Fuel Tanker almost to the same design as in the film too, so yeah defo go for it.
For an army now, best thing to do would be to do a Speed Freak army. A few Trukks, maybe a BW for the Humungous and his retinue, and a metric ton of Buggies (tho maybe wait for the new Codex coming out as Buggies/Traks are one of the highly probable releases). If you add things from the first film and Thunderdome too, you get (Nob?) Bikers and more lads/meks. If you do a Master Blaster character that'd be fantastic.

Biggest shame is there's nothing like kustom speedstas in the list at the moment as that'd fit brilliantly for more vehicles. Looted Wagons closest to it
atm and allow you to vary things.