Providing a supply of air that doesn't have water, rust, and assorted crud in it is expensive at any pressure, but I can understand your incentive.
It might work. It might work better with an abrasive, like salt, or sodium bicarbonate. Understand that the entire abrasive supply and entrainment circuit will be a consumable.
You also need a backstop, to dissipate the jet after it's cut the workpiece. In plasma cutting metal, we use a pan of water, with a semisubmerged array of consumable metal bars to support the workpiece.
In our case, the workpieces are sheets of metal. They are heavy enough to not require clamping to prevent the reaction forces from moving them; the reaction forces are not very large relative to the weight of the workpiece.
In the case of cutting tissue, you will need to clamp the workpiece in place to prevent the jet from relocating it across the room. You will also need to capture the ejecta and clean the machine regularly; yecch.
Sounds like fun.
Oh, yeah, speaking of sound, you will need to enclose and guard the machine to prevent operator hearing damage, also a problem with waterjets.
Mike Halloran
NOT speaking for
DeAngelo Marine Exhaust Inc.
Ft. Lauderdale, FL, USA