This is pretty much what Elli does. She naps on Dad while we watch TV, goes to bed with us between 10 and 11 (sometimes sooner) and wakes up to nurse and for a diaper change between 3 and 4. She does another stretch until about 7 and maybe an hour or so thereafter. We mostly hang out in bed until about 9:30 and then get up for the day.
Usually I get up then and get her up with me, change her into her "daytime" clothes, and she plays in her crib while I eat breakfast. Then I pump and after that, she falls asleep for another hour.
She's still getting at least 2-3 naps a day, one has to be at least 2 hours long or she is very grumpy at night and won't fall asleep.