Hi J,
That is perfectly feasible, and I think a method that wood turners have used for a long time.
The only problem is accuracy. Unless you use a collet chuck system or four jaw independant chuck and clock, every time you reinsert your mandrel back in a three jaw, it will wobble slightly, because you can never get it back in exactly the same position it came out from.
Also, for perfect concentricity of the original threaded hole for the stud, it would need to be bored and single point internally threaded. There are a few easier ways to obtain a concentric screw thread sticking out of a block of metal.
Maybe if you really wanted to go this route, remove your chuck and purchase a blank end arbor to fit into your spindle nose (very cheap), then drill and thread that for holding the parts.
There is another way, and that would be to buy a set of soft jaws for your chuck (if you can get them for your chuck, they are not too expensive). These allow you to bore a very shallow but high grip recess for mounting thin or short parts, and is a very easy way to obtain super accurate tolerances on very thin or short parts. I use this method a lot, and if you precut your piece parts fairly accuratley to begin with, very little wastage.
John
John