Recharging the batteries while using gas will just reduce your gas mileage. You're putting energy in to inefficiently get energy into a battery. You'd be surprised how much an alternator in your car drags against your engine. To get the better gas mileage like you are thinking of, you need a regenerative braking system and a better engineered engine.
The braking is very important. Basically you can use the electric motor that drives the wheel to be put in reverse. A generator and a motor are the same thing. Give it power one way and it will spin. Give it another and it will create electrical energy
A 1600cc VW engine gets 20-35 mpg. It has about 50-70hp. The 1800cc engine in the 2000 celica has 180hp yet I've gotten 34mpg with it. Because of the fine engineering these days (as much as people like to complain about over-complicated engines) we can create much more power for the same amount of gas. Moral of the story is that if an engine like the china girl recieved a lot of attention with overhead cams, valves, and other things then it could get well over 150mpg even without going through the hybrid route.
Anyway, just my thoughts.