Would this work if a DJ was streaming a live set? That would be pretty epic.

Yes, but not on Fountain. (Hopefully live value time splits will be enabled soon @Oscar Merry) You'll have to try a different Podcasting 2.0 app like Podverse, PodcastGuru or Curiocaster, but Homegrown Hits plays DeMu live every Thursday and 99% of the sats sent during the song we are playing go straight to the artist.