When DH was finishing up college, we did it every year from NW New Jersey. The kids loved driving. We left around 10 pm and drove straight through. DH drove through the night, I drove us into FL and then we switched again in Jacksonville. DD was 5 and DS was 2 the first time we drove, they're now 13 (she'll be 14 on our trip) and last year was the last time we drove (and probably ever will). At the rest areas, we'd play frisbee or tag and get them tired. DS sleeps in the truck no matter what, though.
In the beginning, when the kids were little, I would find printable activities on line and make books for them (tictactoe, hangman, etc.), but as they got older - dual screen dvd player with PS2 hooked up to it. One could play a game and the other could watch a movie, or they could each watch a different movie with headphones, or they could both play a game. We'll be going that route in July when we go to the Outer Banks with 4 other families.
Now DH is a Rutgers grad and we are flying in June. I think it's actually about the same - with gas prices the way they are. I booked our air in March at $173 per ticket from Newark, NJ.
I'd say "GO FOR IT" - it's not bad at all!