Yes. Assuming you use a mosfet with a very low Vgs(th), at or below 1volt.
It needs to be fully 'on' at "3.3volt - 0.65volt BE".
A lot of SMD mosfets are suitable for this, but it might not be easy to find a through-hole one.
+1.
A two-transistor design only has advantages when the circuit is battery powered.
It can keep current constant with decreasing battery voltage.
Leo..