The lunar ionosphere is a ~100 km thick layer of electrically charged plasma surrounding the moon. Despite knowledge of its existence for decades, the structure and dynamics of the lunar plasma remain a mystery due to lack of consistent observational capacity. An enhanced observational picture of the lunar ionosphere and improved understanding of its formation/loss mechanisms is critical for understanding the lunar environment as a whole and assessing potential safety and economic hazards associated with lunar exploration and habitation. To address the high priority need for observations of the electrically charged constituents near the lunar surface, we introduce a concept study for the Radio Instrument Package for Lunar Ionospheric Observation (RIPLIO). RIPLIO would consist of a multi-CubeSat constellation (at least two satellites) in lunar orbit for the purpose of conducting “crosslink” radio occultation measurements of the lunar ionosphere, with at least one satellite carrying a very high frequency (VHF) transmitter broadcasting at multiple frequencies, and at least one satellite flying a broadband receiver to monitor transmitting satellites. Radio occultations intermittently occur when satellite-to-satellite signals cross through the lunar ionosphere, and the resulting phase perturbations of VHF signals may be analyzed to infer the ionosphere electron content and high- resolution vertical electron density profiles. As demonstrated in this study, RIPLIO would provide a novel means for lunar observation, with the potential to provide long-term, high-resolution observations of the lunar ionosphere with unprecedented pan-lunar detail.