Well with mods that may very well be possible but, what if we could do better than that? What if there was a way to create your own faction?
Just imagine walking through The Mojave Wasteland recruiting Wastelanders to join your cause. You could be a casual faction consisting of 3 or 4 Goodsprings Locals or an army of battle hardened soldiers with your own factions base, armour, and weapons.
Anyways enough with the sales pitch. Basically the idea is that at the beginning of the game once you leave Doc Mitchell's house a quest activates called something like "The New Guys In Town." (Ideas for names?) The first objective could be something like "Find a location to command your faction from." (Possibly an area just outside of Goodsprings?) When you get there a speech box would pop up asking what you want your faction to be called. Next you would have to go around recruiting Waselanders similar to how you recruit Companions. Basically it would be a bunch of Companions with the standard companion wheel allowing you to give them all matching armour and weapons. (There could even be an item you could use to command all of your members at once.)
I've seen the amazing work some of the modders here can do and I'm sure somebody could make this work.
TL;DR
A request for someone to create a mod allowing us to create our own factions.