That's what the VT100 did with SI and SO. It's been 30? 35? years since I touched a VT100, but I think I recall there being a configuration bit to enable alternate character set on SI/SO.
Probably not what you used to use, but "ctty com2" (and a couple of Returns directed at the VT100) will make it "go." I'm not 100 on what the keymapping is when you're in the setup screen (virtual Setup key at bottom-left).
