Depends on how you design it I guess. I think it'd only really be "good" if you used a crossover.
I'm sure there are some good, powerful 18" speakers suitable out there. If you're absolutely determined to use 12"s, you could even use some guitar drivers for mids and highs. The dispersion wouldn't be too great, of course. But if you're into more vintage-y tone it could possibly work. Maybe align them vertically.
Definitely use a crossover, though.
I'm sure there are some good, powerful 18" speakers suitable out there. If you're absolutely determined to use 12"s, you could even use some guitar drivers for mids and highs. The dispersion wouldn't be too great, of course. But if you're into more vintage-y tone it could possibly work. Maybe align them vertically.
Definitely use a crossover, though.

