That's pretty similar to what I've done. Mixed up about 1L of DME wort, split it into about 10 mason jars and left them out overnight to collect wild yeast and bacteria. I propped up the most promising cultures to 5 gallons recently. The wild stuff has created a lot of white grape, pear, and berry aromatics. It will be interesting to see how well it is attenuating, and how it ages. Not exactly trying to replicate the old world style cool ship fermentation, but a spontaneous beer nonetheless.
In regards to your process, I would do overnight or until you start to see activity. Keep it covered with cheesecloth. Nothing wrong with your experiment as far as I can tell.