I would still have a very rough time doing something like that. Last year the Timberwolves wanted the Cavs #4 and a future first to move down from #2 to #4.
In your scenario though for New Orleans to have two top five picks, it would mean that their pick from Minnesota (slated at #10 right now) would have leaped into the top three since their own pick is slated at #4. This means that even if the Hornets moved up to #2 with their own pick, they would likely have picks #2 and #10.
If New Orleans came to me offering #2, #10, and an unprotected first next year in exchange for #1 and #24, I would have to think long and hard about it. I would probably still pass though. The thought of Kyrie Irving and Anthony Davis together for the next 10+ years is just too powerful.