It would add another middleman to the process, which is not something you want with live HD video. Have you tried Blue Iris's livestream option? Go to http://<yourBlueIrisURLOrIP>/h264/index/temp.m3u8 and you should see a video stream of your cameras. Change "index" to the name of any individual cameras to see it by itself.
what are your plex clients? My android TV just accesses the NVR directly w/out plex.. and so do my tablets/phones.. I have no devices that only have access to plex and dont have access to a standard video streaming client.
All my client can use the blueiris app or the web server, bus have accesso to my camera directly in the plex app would be awsome. I Alredy use the iptv plugin, bus plex only supports .m3u stream.