I'm with Steve, if it is hardwood and not a laminate floor there is no reason that it cannot be done. First, get out of the hardware stores, I would suggest that you contact a local floor refinisher or two and get bids on this project, pick there brains and see if you think you can do this.
Second if you are washing the floor and it is turning white something is very wrong. NEVER repeat NEVER damp mop a hardwood floor, use as little water as possiable on a rag and dry right away. Only use it every 3-6 months on the entire floor, spot clean as needed. What kind of wax are you using? is it for hardwood floors? Does the white go away or do you see white on the floor after waxing? How often do you wax? Every 3-4months 6-12months? I know of waxed floors that are 20years old and still look great. Waxing is a lot of work, if you want to get rid of the wax to get rid of the work thats one thing. If it because of the white in the floor thats another and you may need to look at your cleaning methods. DH