This will absolutely work, especially for a trip like Cleghorn where everyone will be in very close proximity to one another. You've mentioned the pros to a setup like this. Here are a few cons:
1) You'll burn through batteries very quickly, especially if you're talking on it a lot. If there's a power adapter available, I'd suggest to get it
2) Your range will be EXTREMELY limited with a unit like that. Like, in some cases, you may not even be able to reach people that are just around the next bend in the road in front of you. Small antenna + inside the rig = very bad for CB, which is already a very low-range setup even with an ideal setup.
At $50, you can get a really nice mobile CB that you can permanently mount, but you'll have to decide on a location and do the install before the trip (a great opportunity to come to the mod day at RBDuffer's house the day before!), and you'd still have to buy an antenna, coax and a mount. Honestly, you can build a very nice, permanent setup that's not a hold-over for about $90. Again, this will work and will accomplish what you want (quick, easy and cheap), but it's $50 that you'll spend and want to upgrade after just a couple of trips, so it's not a bad idea to invest that $50 into the $90 or $100 solution from the get-go.
One way to make the setup a little better would be to purchase the BNC to PL-259 adapter and run a magnet mount antenna that you can just stick on the roof. It would increase your range quite a bit just by getting the antenna up and out of the rig. However, again, by the time you factor in a magnet mount base, an antenna, the adapter, and the radio, you could just buy a really nice permanent setup and install it.