I have actually seen several projects that incorporated making braille labels. One of the major obstacles that they came across like mentioned by the other two people is the cost. While labeling is important there are other more cost effective ways to produce a label than buying your own 3D printer or going to a local shop that prints them for you. Hopefully this problem will not be an issue much longer since cheaper 3D printers are being produced. The problem with these cheaper printers is the quality of what they print. I've seen 3D printed braille and it looks okay but if you want the crispness and quality you're going to need a better printer.
There are
$1 that run up to around $30 that sighted people can use. You can also use a Perkins brailler on sticky paper or use a slate and stylus and cut it up based on your needs.
Like was said before look at what is already in the market. Definitely talk to B&VI people to see what their needs are. Figure out if your method would be cost effective and how easy you could make operating a 3D printer to produce the product.