I have always had great success fielding an entirely Chaos-armored army. I've even skipped out on sorcerers. The trick with an army like that is that you have to basically treat it as one big unit-- if you only have three units in a 2000 point army, they need to more or less stay together. Make your opponents units fight your army at once, rather than having individual units fight individual units.
The issues you'll run into are really only against shooting armies-- nobody can outfight you, really. So you'll need to make sure you've got some answers for that in the army-- in my case, that means giving everybody a shield, and passing out things like the Blasted Standard to a unit. A unit or three of Warhounds will also give you a way to go chase down artillery quickly, but I've found you can usually soak the shooting casualties-- in my experience, your opponent has two turns of shooting at the most before you charge and are safe from the guns for more or less the rest of the game.
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