Re: "Has anyone suggested such a derivation"
Yes. Just a brief comment so far.
Looking at the relevant entries in NIL (Nomina im indogermanischen Lexicon), I can see they mention such a possible connection (etymology 2 out of 4 mentioned there), citing Kretschmer 1909 (p. 36, ft. 1) and Szemerényi 1977 (68ff).
The relevant passage from Kretschmer 1909:
As you can see, he mentions Pedersen 1893 (ff. 297), who - in his turn - disagrees with Bartholomae 1890 (v.2, p. 31, footnote 5), because Bartholomae 1890 wrote that "wie man *snusā auf *sunu-sā zurückfüren kann, verstehe ich nicht", mentioning in his turn J. Schmidt etc. etc. cf. Pedersen "die alte Etymologie"
The relevant passage from Szemerényi 1977:
Bartholomae, Christian. 1890. Studien zur indogermanischen Sprachgeschichte. Halle: Max Niemeyer.
Kretschmer, Paul. "Zur Geschichte Der Griechischen Dialekte." Glotta 1, no. 1 (1909): 9-59.
Pedersen, Holger. 1893. Die idg. Form des Wortes für “Schwiegertochter”. Beiträger zur Kunde der indogermanischen Sprachen, 18, 293-298.
Szemerényi 1977. Studies in the kinship terminology ... in Acta Iranica 16 (pp. 1-240), also available online dlib.nyu.edu/ancientworld/books/brill_awdl000004/1