There are similar designs all ready out there.
Just do a y a h o o search on the idea.
Here's one for starters:
Osmos wheel- designer and manufacturer of hubless orbital wheel Geneva GlobeHolding SA
Yeah, there are no spokes or a hub, but a rim drive is just one way to transfer power.
If I came across a light weight vertical shaft engine I might try to work it out like a brake on the rim