Here are a few commercially available holders, all of which can be "worn" but none of which specifically carry a broken down rod:
http://www.thereelcreel.com/index.html
http://www.floatntote.com/Content/Product%20Pages/Rod%20Holder.asp
http://www.fishing-catalog.com/Polemate/rodmate.htm
http://2catchfish.com/store/info.php/id/904
http://www.angleroutfitters.com/feature0704.php
I think I'll try using my small fanny pack as a "reel creel" with a velcro loop on the shoulder of my vest (similar to the one on the front) as a proof of concept.
Jim