Massive Equalizer with Bluetooth Input - Feasability

I should have been clear on that. I am looking to make a large LED spectrum equalizer. I basically want to make a very cool light display for parties and general awesomeness. I wanted to do this through Bluetooth so that I can play music from any phone into an audio system. I was thinking that I could have the audio signal pass through the board and both analyze and send it through to a hardwired dedicated audio system built onto their own cabinet. I want to add a few different components just for practice and fun. I though tackling Bluetooth and LED controls would be a good start.