I've been tempted to do it, have never gotten around to setting up my lathe after my last move.
It is pretty easy to do, and takes some practice to do well.
Might be easier to do with a flat piece than one with some shape to it already, and soda can might get a bit brittle, you might need to anneal it before or during the forming.
With thin AL, tough part might be getting enough friction that it doesn't spin on the form.
As long as you don't get a tool flung at you or rip your skin on the spinning edge, you're on the right track!