Flagstone brick veneer on concrete wall

by Rodney
(Meadows of Dan, Va)

I want to cover my chimney, foundation, basement and retaining walls with flagstone brick giving it a rustic dry stack appearance.

I envision scoring pieces of flagstone and breaking or cutting them into 2-3" deep with irregular length strips forming bricks and then mortaring and tying the bricks to the concrete wall. This would expose the layers in the cut edge of the flagstone and produce a ledge-stone style finish (see picture).

Is this doable as an outside veneer? Some of my concerns is that rain water will seep in between the dry-stacked stone, freeze, and cause the stones to break loose. I have looked for a video or article on this but cannot seem to find anything.