I've seen it done here in Canada (Ontario) in the past. In fact, I know two people who served their time on weekends. Both had convictions for substance abuse type offences and had jobs and families to support. The court felt it was more important to allow these people to continue working, getting help, help supporting family than lose everything by going to jail for 3 months. So, every weekend they checked in and every Monday morning checked out.
In fact, both these guys got scared straight, so to speak, went through rehab, kept their jobs and went on the new lives after the fact. It worked.