It'll look like hell, but go for it. I service a couple of clients that have done that.
Don't use unprotected PVC for the pipe on top of the fence. Unprotected PVC is not UV resistant. If you do use PVC use a pant that goes onto plastic. Are the heads/pressure, and flow that you're using able to cover 100'? Normally you will want 'head to head' coverage to do it properly.