Generally speaking, it’s a good practice to do it exactly the way you just did. It’s just that certain acronyms have already been taken. Well, technically all of them have already been taken, but some are obscure while others are familiar to the general public.
If your new acronym collides with something obscure like CMB, then who cares (apart from geologists). If you end up using somethign more familiar ones such as USB, BMW or HTC, you’re going to run into some issues. However, it migh be fun to write an article and really mess with the reader by forcing as many acronym collisions as possible.