Are you saying to slip the 3" into the existing pipe? Maybe I'm reading it wrong but thats what I'm thinking. I ran into this just last week with a 4" clay footer tile with a piece of 3" cast iron shoved into it and going to the sump pit. Needless to say....leaked like a sive. Anyway, if you're saying you're thinking of just shoving one pipe into another, no, you cant do that.
The other possibility is that you're asking if you can reduce the size of the pipe using appropriate fittings. Again, the answer is no. You cannot decrease the size of a pipe in the direction of flow. The pipe is sized according to fixture unit values and decreasing the size decreases the amount of DFUs. In addition, you're right about the real possibility of obstructions at that point.
Hate to say it, but you're going to have to get under that concrete pad if you're going to dig this sewer up and replace it.
One last note. There are methods that I'm only now becoming familiar with in which your sewer is replaced without the need for digging up the yard. As I said, I'm not familiar with these methods, but others here are.