A chap named Chris Lee is doing just that too. His plan is to build an exact 1:1 scale replica that incorporates aspects of the Falcon from A New Hope and Empire Strikes Back over a period of five to seven years. he has a team helping him with everything from upholstery to quad gun construction.
Holy fucking shit, that's mind-blowing in its nerdery. Check out Full Scale Millennium Falcon Project for pictures of his amazing progress.
h/t The Orange.