Yeah, if you want to do it right tho you might want to solder all those rings shut, which is one heck of a job.

I remember a person who wore a chain mail made of key chains during a LARP, it looked okay but each hit he took would send key chain rings flying in all directions.

Of course it is even more work if you want to do it in the way the old armor makers did it, flatten the ends of the ring, drill a hole through them and then use tiny rivets to seal each and every single ring.