If you can repress, dtg printing, you can apply stones on as the hotfix will need repressing, ontop of the dtg..screenprining, vinyl, and bling bling bling away.
I placed stones by hand,, for a long time,,
and now have cutters to make templates,.make sure you have a market .
There is nothing wrong with handsetting, I still do it for a one of a kind shirt as i just love designing and setting the stones and studs.
go for it and post some pics to show your work.