One of the things I plan on doing is AIMing some stocks in one of the Folios, about just like you described, but at more than $100 each and not 50 stocks to start it out -- around 20 to start with along with some ETFs.
Another option is to use one (or more) of FolioFN's predefined folios and either AIM the whole thing or each holding within the folio individually or some combination thereof. They offer quite a listing from following well-known indexes, such as the Dow Jones, to variations (Dogs and/or Cats of the Dow) as well as generalized by market cap, foreign, broad domestic, social issue. and even some almost zany such as Beer, Wine & Spirits or Golf.
AIMster