Seems to me to be totally unworkable. States will be open for several days, then closed for two weeks, open again for several days, then closed down again. Wash. Rinse. Repeat. Will be more problematic for smaller states with bigger potential swings in per caps from smaller issues.
Seems to me you would have one set of thresholds for re-opening and another (somewhat higher one) for remaining open. Remain under the second threshold and you stay open. Exceed any of them and you close back down.
No state did a true lockdown in the sense that they happened in China. Had those been put in place, the numbers in any state would have been lower. So that your cases rise when things re-open, shouldn’t automatically mean you shut back down again (as long as you stay under the stay reopened criteria).