Indeed. Also, AFAIK, although not exactly an imaging technique, what is called "minute ventilation" is usually an impedance-based measurement in most pacemakers. This is related even though it requires a lot fewer electrodes and a lot less computation.
Now obviously with the above project, spatial resolution will be pretty poor.
As a side note, just be very careful with safety with this kind of devices if you're going to build and test homemade prototypes on living beings.