The issue I see with that is that we've grown accustomed to breaks in our TV shows, whereas we would likely see any break in our movie experience as jarring and negative.
Something more like YouTube's banner ads along the bottom might work.
Banner ads piss me off more than a commercial break. I'm used to advert breaks in movies around the holidays when every network runs old movies so I'm sure it wouldn't be a huge leap.
Perhaps cut the breaks to every 30 minutes or so. An advert break every 10 minutes in Titanic would likely induce suicide.
Something more like YouTube's banner ads along the bottom might work.