I know this is a predominately male audience, but you are a group of smart people who can hopefully provide objectivity and help develop this idea.
The way girls shop for jeans is broken, IMO. Girls must browse through arbitrary, unstandardized sizes and try on a range of jeans from size 2-4, for example, to find ones that fit right.
Men have it easier. Two simple measurements, waist and inseam. I know that women would need more dimensions like hip and thigh to get a closer fit (us guys don't particularly care if our pants accentuate the right places).
What I want to do is bring uniform measurements to women's jeans, and allow women to custom-fit their jeans by ordering online, with a generous return policy like Zappos did with shoes. It's essentially a new brand of jeans that sets itself apart by making it easier for women to find jeans that fit them perfectly, every time.
Thoughts, suggestions, critiques?
In your proposed system, the woman instead needs to measure her waist, hips, thighs, inseam, and probably some other things too. Having done some dress making in the distant past, I know it is easier said than done to measure yourself in the correct places. And it is not fun. But sure, if you offered jeans that were customizable on enough size points, as well as in styles, perhaps you could sell your jeans online without a lot of returns.
I think the key to the success of a new brand of jeans though is not just about how well it fits. Just take a look at all the women in ill-fitting skinny jeans out there! My hunch is that women on average have a less utilitarian attitude to fashion than men (men often just want something that looks decent and fits well?).
Perhaps instead of taking on the risk and challenge of building a new fashion brand, you could leverage the brands of others. Take measurements of all the popular jeans brands in all the major sizes and then write the matching tool. Its not as lucrative a revenue model (it would be affiliate), but it would help you test part of your idea.