Yes, this is a valid strategy. For a solo 401k, your contribution limit is $18000 plus 20% of your self employment income, or 25% of your salary (see pub 560 for details). You need a salary of 140k to get there.
Popular wisdom on meeting the "reasonable compensation" test is that if you pay the FICA max of $118,500, you're relatively safe. You could also point to salary surveys for the type of job you're doing, and compare the average to what you're taking.