Is it possible? Yes. Is it likely? Probably not because it really puts you in the position of being a renter.
And, if the time for travel is not close to each others, someone is getting to go first. Since the reservations remain in the name of each owner, there would be nothing to stop someone from canceling the others reservation after they return from their own.
Not that many owners would do this, but just a risk and a hassle that I don't know a lot would take on.
But, you never know. The only other thing would be to try and find someone who would be willing to transfer you their points (and you transfer them yours) but due to the one per UY transfer, they would have to be for different UY's. For example, you transfer them your 2010 points, and they transfer you their 2011 points.