I don't think I'd do it because I still think that the chariots are over priced for what they do (I can get a burst of speed out of an infantry unit for 1 CA and a heck of a lot more durability), but that being said, don't underestimate the power of an all cav charge. I've done it with Hawkshold in Kingdoms and have had some success. Granted, Hawkshold has Scouts along with Knights to go with those Light Cav, but the principle is the same: somewhere on the line you'll bust through his units and then "its flankerin' time!"
I've done the same with a 2x Knight, 2 x Light Cav, 1 x Scout build and some Peasants cowering somewhere. Not only was it spectacularly successful but it was a hell of a lot of fun.
