Hmmm... well, if you insert a steel or brass case into the bullet to contain the pressure, that kinda defeats the purpose of caseless ammo....
I hate to be a party pooper, but the idea in the OP is a non starter.
I see two main problems...
#1, powder space... You are going to have a problem there, if you make the lead around the powder thin to fit more powder, then you have the problem unclenick outlined above, if you make it thicker, you lose powder space... You cannot go above .50 caliber, so you are really limited.... You can only go longer to fit more powder, but that will add weight, increasing powder needs, a vicious cycle....
#2, This one will probably be a bigger problem than #1. With the combustion happening inside the bullet, the sides of the bullet are going to be pressed against the barrel with the same force that the bullet is propelled forward, making for
lots of drag and probably horrible leading...
Honestly I doubt the "bullet" would even leave the barrel, thats assuming the thing doesnt just explode.....