We're now doing this with my 3.5 year old because he was also having a hard time falling asleep at night and, selfishly, he has an older sister who no longer naps, so we're ready to not be tied to the house in the middle of the day! He still naps at school, so I feel he's getting catch up time there.
We found it helpful to go for a drive later in the afternoon, if that's possible. I don't know if your son is a "car sleeper" put both my kids zonk out if they're tired and we're driving. That's allowed him to grab about 30 minutes, which ties him over but it doesn't feel like we're waking him up.
It'll be a little trial and error, I think. My daughter was a hot mess when she stopped napping. The whole afternoon was a disaster for a while. My son is much more flexible about sleep. He has moments of crankiness, but for the most part, if we just push his bedtime down a bit he can rally. Hopefully it's the same for you. Good luck!