I love the elegance of this, unfortunately I can imagine an attempt to use it devolving into the "more than two genders" argument.

The solution could be that anyone is free to use whatever Scandinavian vowel they prefer. Latinå, Latinæ, Latinä, Latinø...

"Latin@" is also sometimes used to avoid denoting male or female, but many people prefer "Latinx" for exactly the reason you mentioned.