I don't think it could be properly based on Bram Stoker's narrative as much as I think it'd fare better merely lifting elements from Stoker's to fit in the Castlevania universe.
I believe I have mentioned before, but if this story were to be included in the timeline without heavy adjustments, major issues would arise. Too many elements are required by the neighboring Castlevania plots to appear in this plot that have no place in the Stoker's story. It'd stick out as a sore thumb.
Yet, if this were to be made as a stand-alone, timeline-detached story - a Gaiden game - then I'd see no problem and it'd be probably waaaaaay freaking cool.
But I guess a really good stoyteller could make it work, even including all Castlevania-related elements that are nowhere to be seen, nor have place in Stoker's story.