Not only does the failover interface have to be on the same subnet, but EVERY other interface on the PIX has to have a connection to the same interface on the other PIX, in the same subnet. I don't see how you could do this when they're remote.
The two PIX's send hello's out every interface to ensure they're all still up, plus they send stateful information over a separate interface. On a busy PIX you would delays in this stateful information which would lead to more problems.
Basically what I'm trying to say is that you don't want to/can't do this.