Much as it would be an interesting scenario to write, there is absolutely no way Iraq can beat back the Coalition. Vietnam was a scenario where the US could not declare a full-scale war against the Vietnamese government, and kept trying to find ways around that, effectively hamstringing its participation within the war until the Vietnamese basically outlasted them. I can't see Iraq in 2003 having the patience or the resources for a long-scale insurgency the way the VC managed it.
Furthermore, North Vietnam had a large amount of backers and suppliers, starting with the Soviet Union, to keep bleeding the Americans out. Iraq under Saddam burned all its bridges, and whatever allies it had left were unwilling or unable to help it against the US-lead coalition, especially since the USA was fresh off the Sept 11 attacks (or was still riding high on the excuse and desire for revenge).
To top it all off, you can't just "give" the Iraqis space weapons and expect them to be good at them. You can toss the Wehrmacht enough M1A2s and F-22s to theoretically crush the USSR in six months, but without proper training, supplies, logistics, spare parts and maintenance, the whole thing would basically pointless as equipment breaks down, and some specialized equipment needs special handling to get whatever benefits you need from it. Especially since the Iraqi army was just masses of warm bodies lead by complete morons and 'modern major generals' who got their ranks through connections and nepotism, who couldn't fight a decent war if their lives depended on it (and it did IOTL).
So yeah, basically ASB.
The only way Iraq wins is if a meteor hits the US East Coast as the US forces are invading and the surviving government orders their forces to return home to keep order. In which case, President Dubya would have much bigger problems than losing the war (such as the fact he probably got killed via meteor impact or is buried deep underground in the White House bunker).