Possibly, but but getting the battery and IR to be small and last a decent amount of time would be difficult.
Most important, it would not be proximity so much as line of sight.
In my experience, proximity cards are non-intrusive. That is, you sign onto the computer. If it detects you have the proper security from your card, which is often like a name/ID tag on your person, everything goes smoothly. The link is broken when you leave the vicinity by more than a meter or so. In contrast, having to take an IR card, point it at the computer, and keep it in communication would be more intrusive. You might also forget about it and leave it at the computer.
John