Plenty of people already have all the looms they need when they start aiming for a higher level. TheSerge (I think) or Balbaroth being prime examples.
That said, this idea wouldn't work because it's easier to gain xp and money when you're a higher level (Better stats) and so you would be able to get heirlooms quicker... Unless you're saying you only get 1 loom point for lvl 32 and lvl 33, etc (not counting looms by exp).