I haven't had experience with this personally, but there are a couple of people here doing it. Check out some of the log's (Nick's comes to mind, so does Mr_Rogers' for some ideas). I do think you can get away with doing the big lifts 1x per week and making gains. That is actually all I do right now (1x per week press, bench, squat, and DL) and they are moving up.
How good are you at the snatch/C&J right now? If you are still learning them, they will be pretty light and probably won't take too much out of you. As you get better at them, then you will have to be careful with your recovery ability/time. This is where 1x per on the slow lifts will probably help.