Some searching on these forums showed a few others who had the idea, most notably:
http://www.forums.benheck.com/viewtopic.php?f=2&t=5713
He apparently got hung up at the point of using a USB connection between the screen and the portable. In short, the screen needs 5 pins (video, left audio, right audio, power, and ground), whereas USB, as everyone knows, is 4 pins only.
I considered simply merging the audios together into mono, but that would be somewhat less than ideal. Then I looked a little closer at the mini-usb specification often used in small electronics like mp3 players and digital cameras. It has 5 pins! Subsequent searching revealed that the 4th and 5th pins are both ground.

Therefore, couldn't some hacking allow you to use all 5 pins separately and therefore allow a usb connection between screen and portable?
Post-script: great idea by bioniclebart to power his portable using USB.

