Yup, the Mandos have been using trash cans to make their armor for quite some time now and there's a thread here demonstrating how you can make an Iron Man costume by riveting together parts cut out of plastic trash can. If you can make an Iron Man armor and Mando armor from a plastic trash can then you can make that set of seggy from trash cans, in fact, with the exception of the ridges that simulate the bands, it would be even easier than either Iron Man or a Mando.
Depending on the size of the trash can I'd guess that you could make that seggy out of just two cans. One can would form the cuirass, you'd just cut out and trim the bottom and then make an opening in the front. The shoulders you make a pattern on paper first, lay it on the trash can and cut around the pattern. The only trick would be to simulate the banding, that you could probably do with heating the can and then running something along the inside to create a ridge all around. I'm sure that some of the more experienced people here can offer you a better suggestion for how to make the ridges.
As for putting the whole thing together, it looks like the front of the cuirass uses off the shelf hardware for the laces to go through. What it looks like to me is the little triangles that you find on the back of some picture frames for hanging them on your wall. As for how the shoulders connect to the cuirass, I'm not sure but I'm sure it's not all that complicated.