Giants,
This has been tried I am sure, the idea seems good but their are two things that work against the success of it.
1) BHT - Body Hair Transplants, is still in its early stages, their are some success stories and some that do not work out that well, the graft survival rate is lower and the expense is high.
2) Grafting in a scar which is poorly vascularized anyway will additionally hinder the graft rate survival. Of course you have plenty of body hair so you could keep trying till they take, who knows. One thing for sure, you would spend alot of cash trying with no guarantees.