Suggestion for a Synthesis of Paracetamol — plausible?
Your route sounds possible, yes. (Aniline is commercially available.) There would very likely be side reactions of the amide under Baeyer-Villiger conditions but nothing exceptionally out of control—except you lose a little bit of yield.

There seems to have been a little race concerning the shortest and most environmentally favourable route to paracetamol. To the best of my knowledge, and assuming that their NMR spectra are unaltered and directly from the reaction published, Joncour et al. have the shortest route in 1 (one) step starting from (also commercially available) hydroquinone and utilising ammonium acetate in acetic acid.[1]

However, for the industry to decide to use a non-established method, that new method must offer a significant advantage over what is presently used. ‘Significant advantage’ typically means much safer or much cheaper. The industrial paracetamol synthesis as employed by Hoechst–Celanese starts off from phenol (extremely inexpesive), does a Friedel–Crafts type acylation with acetic anhydride and $\ce{HF}$ (cheap materials), transforms the ketone into a ketoxime (cheap $\ce{NH2OH}$) and finally uses catalytic acids ($\ce{CF3COOH, SOCl2}$; the latter being rather cheap) to induce a Beckmann rearrangement.

Viewed zealously, this is technically already a more optimised synthesis than the one you propose—it is a step shorter and uses even cheaper reagents. There is probably not much room left for optimisation along these traditional lines.

Referene:

[1]: R. Joncour, N. Duguet, E. Métay, A. Ferreira, M. Lemaire, Green Chem. 2014, 16, 2997. DOI: 10.1039/C4GC00166D. The openly accessable supplementary information with experimental details and the NMR spectrum is available on the same page.