Lebanon was conceived as a three-legged stool, too: Shia, Sunni, Maronite. Different birth rates created a Shia majority by the 1970s, which was not reflected in the power sharing agreements forged in the 1930s. The rest is history.
Doing something similar with Israel is problematic, since literally everyone around it speaks Arabic. You'd need to go to Iran and Turkey just to get down to 50% Arabic speakers.
Theoretically, you could have the Jews in Palestine pick Arabic as their official language. Arabic
has been one of the culture languages of Judaism after all, and there is a fairly significant tradition of Arabic written in Hebrew script, with specifically Jewish literary variants.
The likelyhood is, of course, vanishingly small.
The early Zionist movement was overwhelmingly Ashkenazi from Eastern Europe, with Germanic Yiddish as the primary native language (alongside Polish, Russian, German, Hungarian, etc): they obviously had not cultural connection to Arabic.
The choice of Hebrew was rather logical, despite its exceptional nature and consequences, but there was an element of arbitrariness. The immigrants could have chosen to adopt a Judaic Arabic variety in recognition of the fact that they were going to share the land, and the future nation-state, with Arabic-speakers; the effort needed would have been no less than what occurred historically to enforce Hebrew.
In actual history, however, motivation to do that was non-existent. As far as I am aware, nobody ever considered such an idea.
Perhaps an earlier immigration from Arab countries would be required, but there would major obvious problems in that circumstance, since, historically, it was primarily the creation of the State of Israel that led to Arabic-speaking Jew to leave their homes (often forcibly) to go there.
Early immigration from other Arab lands to Palestine early is actually hard to conceive, everything else being historical. The factors conducive to that would also probably make Palestine the wrong place to go.