Timber, maybe you could start with a self propelled stumper. It already has the mobility and power plant, all you would have to do is figure out how to make the grinding head a modular unit that is swappable with a chipper head. A chuck and duck drum mounted at the crankshaft and a feed chute sticking out to where the grinder head was. Contact Vermeer or Rayco, they might be inclined to help you out in the interest of building and testing a prototype.
It is a great idea, and would probably be able to make back the R and D. They could have other attachments to; I’ve always wanted a multi speed, dual or triple drum winch so that I could set up a mini-yarder in real steep or rough terrain.