I had actually considered that, since it's pretty much the origin of what I'm talking about. I don't really know a clean way to mount ALICE gear to MOLLE, though (or, more specifically, First Spear's 6/12 gear).
I got a PM pointing me towards LBT, who happens to make nearly exactly what I'm talking about. Holds 3 mags, has buckle closure (and velcro, if needed), and bungee material to collapse the pouch.
A bit spendier than I would like at $58 per, but they seem to be the only game in town (next to the classic ALICE pouch).
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