hi austim,
I think that your idea will unfortumately mix-up stress calculations with strength calculations, and most especially ultimate strength calculations, where, at overload (ultimate!) prestressed sections will behave very simlar to RC sections.
At ultimate, the effect of the axial prestress (P/A) on the section do NOT enter into Mu calculation, (except for small effect in bonded prestress where we need to know the very small initial compressive strain in the concrete to eventually calculate the total strain in the strand at ultimate).
I would suggest that the value for fps (stress in the unbonded prestressing) be calculated from the empirical ACI318 (same as AS3600 essentially) formula. This will be a constant value depending on the span-to-depth ratio of the element. Then with this value undertake strain compatibility as you would with RC design, ensuring that equilibium is maintained. Take moments about any point on the section to calc Mu.
This will work with almost any section shape. Could even use parabolic concrete stress block if you wanted to get fancy! Probably an iterative process is best depending if compression and tension mild steel are present, and how complex the section shape is.
If you only have tension rebar with unbonded PT, assume the steel yields, use fps value (ACI etc), calc neutral axis position (at ultimate - assuming conc strain 0.003) ie C=Ts+Tp, check that steel does indeed yield, then calc Mu.
The above is no different to usual Mu calcs, except we already have the value of the force in the unbonded tendon, all be that this calculaton is approximate (very approximate)!!!
HTH