Yes; Wallace was a genius (an evil one), and could win the hearts and support of union voters and blue collar workers with his populist rhetoric. But he would need to emphasize his support for unions, etc. to get votes outside the south. If he wanted, he could run to the left of Dems on the economy and to the right of Nixon on social issues, and at least win the Old Confederacy.
I don't think Wallace was a genius at all. A genius wouldn't have picked LeMay. But actually, you make a great point. Wallace would have needed to outdistance Humphrey with blue collar workers in places like here in Pennsylvania where HHH was popular. Not an impossible feat. Two things conspired to beat him in doing so. First of all, Nixon's Southern Strategy cut his legs out from under him with voters who might have been sympathetic. The other was the unions loyalty to Humphrey, an ally they trusted rather than Wallace, whom I'm sure they figured was not trustworthy.
