It's possible, but i think that would be very hard to write and keep everyone in character... Too many cooks spoil the soup.
Keep in mind that all 5 are captains - they all want a chance to stab at the Yonkou, therefore even though they've agreed to an alliance to take on the Yonkou, they'll probably withdraw as soon as BigMam's/Kaidou's head is in sight. Out of these 5, we only know Luffy's true character - so he's probably the only one who wouldn't betray the others no matter what. Even with Law, we're not sure of his true motives yet... And, we keep getting hints that he may be a freaking psychopath anyway.
Kidd, Apoo and Hawkins seem more savage than Luffy and Law. And the only reason I'm not putting Law on there yet is because we've not seen him kill anyone (or attempt to) yet. Think of it this way:
Kidd Apoo Hawkins want to kill Yonkou in order to assert dominance in the NW. I don't see Kidd letting Kaidou/BigMam go if he has the chance to deal the finishing blow.
Luffy and Law seem to just want to destroy the Yonkou forces (in Law's case) and just beat them up (in Luffy's). We know that Luffy isn't a murderer. Him winning in a fair fight against a Yonkou is good enough for him.
My point, although it is possible that they'll switch teams/join up later, I think it would be really hard for blood thirsty Kidd to work with Luffy. I can see Apoo and Hawkins supporting Luffy, since they are not as violent as Kidd, but I can't see Luffy and Kidd working together for a something that cannot be split (ie: the credit for beating a Yonkou).