It sounds like a great idea
...but it does require a lot of terrain building and model painting. Depending on the scenarios you want to play (and how your story unfolds), you'd need a Shire board (or a generic forest board), a river board (with optional ferry & jetty), barrows, Weathertop ruins, the West gate of Moria, Balin's tomb, Dwarrowdelf & bridge of Khazad-dûm, a Lothlorien board, Amon Hen board, Zirak-zigil tower top, Emyn Muil board, Dead Marshes board, Meduseld, Helm's Deep, Isengard, Minas Tirith, Osgiliath, Pelargir, Fangorn (your generic forest board could be used, too), Mirkwood (generic forest board again), Erebor & Dale ruins, Ithilien board, Shelob's lair, Tower of Cirith Ungol, Mordor board, the Black Gate, Grond and a couple of corsair ships. And lots of figures...
Looking forward to following your videos, should you carry on with the campaign plans...