"Thus I throw this into the arena. The questions are will it work. Can it be automated? Can I get pointed in the right direction? Can I get help if I have to sort it out myself?"

Yes it can work.
Yes it probably can be automated, (others are much more qualified than me to answer this) but if you're not there to supervise you will still have the rollercoaster happening.

"Lay the SP fav for $30 liability. Lay the 2nd fav for $35 liability, lay the 3rd fav for $40 liability etc throughout the field. This would see the 15th fav at a $100 liability."

Don't do this !!! It's all out of whack. A run of decent priced winners, which is what we layers want, and you will get fried.

If someone can automate laying to payout a certain amount if a runner is a certain price then I'm in. Always, ALWAYS, make the fav the worst, or at best make it second worst and the 2nd fav the worst.