Yes,,,the aquarium has been done before using 55gal tank....with success for personal use amounts..
We used foam with 1" holes for the floats,,,airstones(bubblestrips) in the bottom of tank for aerating the nute solution..the rest is standard hydro principles...
Time and has turned this idea into what is now considered(with the help of Rubbermaid...lol) a basic bubbler system....less the floats.
As far as light amount....I prefer the 35-50w per square foot of grow area rule,,,50w preferred..
have fun....grow well