I just attempted it using PhoneGap Build 3.1.0 and Android JB 4.2.2. The apk produced by Phonegap Build installed over ADB successfully. When run, some of the basic functionality survived (links, basic text structure) but the colors, theming, button structure, and most of what would make the app usable does not seem to work.
I'm reverting now to building my app the old-fashioned way.