Oh of course! All his Shikai abilites are like that, not just Iro Oni, so I would assume his Bankai is going to be equally insane in it's power, but also have the same fairly huge weakness. That's why Ukitake told him not to use it during the Winter War, because he was worried that others would get caught up in the radius and might get hurt by accident.
Tbh his Getsuga Tenshou is already pretty similar to a Quincy Energy Arrow, except the power for it comes from him rather than from the surrounding area, all he really needs to do is learn how to harness the Reishi in his surroundings and he's pretty much GOT a hybrid Zanpaktou/Quincy bow
.
Would be pretty funny though
Juha "Rah We are the Stern Ritter! We've waited 1000 years for our vengeance"
Yama-ji "Computer says.....No" *oneshots the whole army with Zanka No Tachi* "Try again in another 1000 years bitches."