I did just this last year. I was working on my own business and freelancing. Got a job teaching part time at a university. Did it for about a year then money was still tight started looking for full-time work and was approached by a recruiter. This new job is the best one I have ever had and the company is very prestiges. So not only in that year did I get to spend every day with my new born son and do quite a lot of actives I have passion for but I ended up ahead of were I was by quite a lot.
I think there were a few factors at play one was I had already had 5 years of experience working full-time. Which I think helps a lot in a situation like this. Also I was working in a number of different facets so I was not just bumming around. But I think my previous experience was what made it all possible because with that I had a proven track record so people could trust I knew what I was doing. The opportunity played into it also because I had all of the right experience and they were looking for something very particular.
So yes if you took the teaching gig you could still get back into the industry. But I feel I got very lucky and my case was special and it will depend on a number of factors. Because I did it I would say yes more then likely you can do it. But as with all career dicsions weight them against what might happen and what has happened to you in the past.