Rearing young isn't impossible, but it is very, very difficult. Cannibalism is certainly a major problem, but so are disease and food. People have had the greatest success with gonodactylids. They start out relatively large when hatched (a little over a mm) and stay in the plankton for only three to four weeks. When they settle as postlarvae, they will be 6-8 mm total length. Brine shrimp naupli are NOT an adequate food. I have had some success treating brine shrimp naupli with additives such as Selco, but you probably should have other food available as well. Rotifers (for the first couple of stages) and larvae from cleaner shrimp are useful.
My only success came trying to rear young of Gonodactylus chiragra. We isolated 100 larvae the day after they became free swiming (fourth stadium) place each in a 250 ml beaker, provided food and changed the water daily, and after a month, two postlarve settled. All of the others had died.
My guess is that a large "edgeless" rearing tank similar to those used for cleaner shrimp might work if the proper food were available, but mortality from cannibalism would be very high.
Small egged species with long planktonic periods would seem to me to be nearly impossible. These would include Odontodactylids, Pseudosquillids, Squillid, and some Lysiosquillids. If you must have a go at it, stick with gonodactylids.
Roy