A/V recevier HDMI to TV, then Optical to DAC?

I have space and WAF issues that make creating a system very challenging. I also need both audio and video in the same general space, but have basically separate systems

One thing that would simplify my set-up would be to run a bunch of A/V sources via HDMI into an HDMI receiver, and then out of the receiver via HDMI to the TV.

On the audio side, would it then be possible to take the digital out from the TV (optical) and run that to a stand alone 2-channel DAC which goes to an analog pre-amp that feeds the monoblock amplifiers that in turn power the L and Right main speakers??

So for example:

Blu ray via HDMI --> A/V receiver via HDMI --> TV via optical --> DAC via XLR analog --> preamp.

In addition to the Blu ray player, there's a DirectTV reciever, an Xbox, and an Apple TV.

Your help is most appreciated.

Thanks.

--dan