Time Slot Team Project management

We are defining a project organization for high complex project. We plan to define different project streams (i.e. one each bunch of functionalities). Each PM will be fully responsible of its own stream. PMs will access to differents specialized developers team.
Developers team will be assigned to the stream according the planning made by PM. A critical issue is the allocation/contention of the teams int he right time-slot and the efficiency of the whole project. We plant to have 10 teams that must move from one stream to another according the scheduling
I’m looking for experiences, drawbacks highlight in this kind of project organization