Oh definitely, the main concern I have with him, is how does he get out and get to France/Italy? Does he do it through aid from former associates of his uncle, who despise Tudor? If so, what stops him being used as a French puppet? The power of Rome?
Much would depend on where Warwick is when Bosworth occurs. I have some vague recollection that he may have been set up in one of Richard's northern castles (Sheriff Hutton?) but if he's in London he probably needs to get out of there ASAP, before Henry arrives.
As to how- you either need his guardian (whoever that may be) to be dedicated enough to spirit him out of the country (and that will take some loyalty- you don't want to piss off a newly victorious King Henry for nothing) or have him located somewhere such that one of Richard's loyalists (Lincoln, Lovell, Stafford brothers) can collect him and take him away. But Lovell and the Staffords were in sanctuary in the immediate aftermath of Bosworth and I imagine Henry will be keeping a close eye on Lincoln, so...
From thence, I imagine the first port of call will be Burgundy and Aunt Margaret (who kinda sorta supported Warwick's claim to the throne IOTL with her support of Simnel)- they wouldn't go to France, as France has just supported Tudor (though the vicissitudes of diplomacy mean he could end up in France later).
Then the trouble is stopping him from getting dragged back to England to act as the figurehead in some rebellion against Henry VII and getting captured (as happened to fake!Edward/Simnel IOTL), having him survive long enough to get married, and then conjuring up a diplomatic situation where a match with Lucrezia becomes possible.