WCW is owned by WWE, so that's not going to happen. I assume that DST's license is much like Jakks, in that they can do older looks for wrestlers from outside their WWE days (like they could do a young Chris Jericho from very early in his career). Theoretically I suppose they could sign old wrestlers to merch contracts and produce some kind of a Legends of Wrestling line, but I can't see how that would be cost effective.
Luke did a whole series of custom WWF Minimates; you should look at that thread if you haven't. That's as close as you're probably going to get I'm afraid.