Hasn't this already been done?
It's called Hogs of War
and is essentially worms in 3D, but with pigs fighting it out instead.
The game works ok in 3D and we had a good laugh playing it on the PS1 mainly due to Rick Mayall's (Bottom, Young Ones) humorous voice-overs. I wouldn't say it surpasses the 2D version however and if I had to choose between the two, I'd rather play 2D.
Have a look at the site below:
Hogs of War website