Interesting concept for sure, but it would be a challenge to engineer. Forcing that slug through the barrel is going to introduce a significant torque on the sleeve. You would need a keyed/threaded sleeve of so sort, which would reduce the reinforcement on the larger caliber, increasing the risk of bulge/rupture. You would almost need one sleeve for each caliber.
Before going to that length, I think I would make the barrel threaded like a rifle and just use smooth sleeves in the cylinder.