I have a lot of moments where I say to myself "Self, why didn't you think of that?"
Using Google+ Hangouts as a way to run pen and paper RPGs is brilliant! I am very eager to give this a try.
Some bloggers have put together a site called ConstantCon to help facilitate players and GMs meeting up and setting up games. It really is like the convention game signup sheet--only constant / eternal / perpetual / awesome / never ending. You get the idea.
Check it out at the link below. Also, if you're interested in seeing what games I might end up running in this format, add me to a circle on G+ using the other link here. Please post to me (Limited, + me only) to let me know so I can add you to my gaming circle.
+Ian Wheat: https://plus.google.com/106423294933249271024