That would be really nice, but it's a huge road. That would take years to approve and get going.
There is probably some interim step they could take in the meantime like just building a southern bypass that connects near the I-75 junction and goes to near the I-59 junction. Or at any rate, at a quick glance that seems to have the fewest terrain issues.
Actually, that would be the toughest, because it would probably have to tunnel under Lookout Mountain. The north section with the new bridge across the river would be tough, too. The easiest place to start would be on the East side of town, because they could just bring the already existing Hwy 60/71 between Cleveland and Dalton, GA up to Interstate standards.
I think/hope I have at least 50 more years to live, and I doubt the whole thing gets built in my lifetime.