Apart from the physical integrity problem, there is the daunting shear data rate problem. Modern flight recorders record a vast number of parameters(thanks toflash memory) at different intervals,but some quite fast. Presumably , each receiving satellite would would have te deal with a large number of client aircraft, so that the required broadcast bandwidth is almost beyond belief..allother bidders would cry foul.
The only way round this limitation would be if you only activated this arrangement if you knew you were going to need it !
Keith