Creating new icloud email address to associate with old icloud account

Ok, so basically I have my icloud account and an icloud email address associated with it. Now I know I can use any other email but an icloud to associate with it, I know how to do that. Would it be possible to create a new icloud email address to associate with the old apple ID so I don't lose my purchases? I'm thinking I could create a new apple ID with an icloud email, associate that with say a GMAIL account, do the same with the old one, removing the icloud email address association from each apple ID? Then re-adding the emails but doing a switcheroo so the new email address is associated with my apple ID and the old one is associated with an apple ID that I'll just leave languish? Let me know if this is possible.