I want to control a lot of LEDs (like 128) in an area of about 1 m2.

Instead of using separate wires, could I use a 28 AWG flat cable, and split/cut it wherever needed? E.g. split it in two wire groups and cut it wherever I want to place a LED?

Btw, I'm intending to use two MAX7219 ICs to control them using multiplexing.

According to the AWG table, I can use 0.226 A for each wire, which is enough (the LEDs I used are simple 3 mm LEDs and not intending to give them more than 0.2 A of current).