Recipes could be:
Helm: 3 instead of 5
Body: 5 Instead of 8
Leggings: 4 instead of 7
And boots: 2 instead of 4
I get what you're trying to say here, but it doesn't make any "crafting" sense. Three items cannot be arranged into a helm recipe, 5 items cannot make a chestplate, etc.
Adding a new "chain link" item for the sole purpose of making chain armor craft-able is not something I think I can agree with unless other uses can be found for them. I suppose Iron bars can be used for the recipe, but since you get 16 of them for only 6 Iron it sort of upsets the delicate balance between armor tiers.
In conclusion... No Support.
Blacksmiths offer chain armor for relatively cheap.
Iron is not that difficult to find and iron tools can wait if you desperately need that armor now.
I understand the point being armor without much mining, but if it's too cheap, it will be OP. Unless it had low durabilty, then it might be balanced.Also, 4 = 7 would take 16 ingots, so it would be more expensive. Maybe 1 = 2? Would take 12 ingots.