Indeed.
I've tried my hand at this a bit more, I've been able to connect up to two airborne ouroboros after the first RC but anything further just misses due to the opponent recovering. (Could probably connect another 214B here though)
This also seems to apply to the ground as well, any attempt to connect another BnB fails. (I can connect 5C => 2C like it was mentioned before, but anything further, nope).
Guess I would only see this useful as a trap to catch the opponent with his command throw if you expect a neutral recover in any case, but it's risky and I'd rather go for another Jayoku. :P