Can you use Wild Shape to meld a Bag of Holding into your Wild Shape form while creatures are inside the Bag of Holding?

My players are planning a heist. Two of the players each have a Necklace of Adaptation and do not need to breathe. They want to go inside a bag of holding (which is allowed from what I know), then give the bag to the Druid who wild shapes into a rat and chooses to "merge their equipment into their new form". Thus allowing the rat to carry the two PCs into the mansion easy-peasy. This is super creative, but would that be possible?