If I was going on a dodge-focused party...
Arbalest, Antiquarian, Houndmaster, DPS (Bounty hunter seems likely due to marking capability, though a leper can fit).
Essentially, Arbalest uses suppressing fire to lower enemy accuracy or do damage, houndmaster guard dog's the DPS, antiquarian PM!'s the houndmaster or even flashing powder to further reduce enemy accuracy, and the front DPS does their thing.
The houndmaster's dodge would skyrocket, letting him dodge most attacks (He'd be 100+ after the second round, even higher with dodge trinkets; ancestor coat is +15). Since guard dog lasts 3 turns, they could protect both the Arbalest and BH or just mark the target. This is in addition to the Protection buff from the antiquarian.
You could do something similar with the man at arms replacing the HM. Crt/DMG trinkets for the MAA, he defends one character and gets PM!'d by the antiquarian. Those two alone would push him to 50% protection in the first round at level 1 (Dunno about the antiquarian, but he gets 45% protection at level 5; antiquarian is 32% at level 3). 75% of non-AOE attacks would be redirected to the MAA who's prot would soak it up and he'd riposte for crits to negate stress damage.
It's a bit slower as he has to riposte before guarding, but the damage should more than make up for it. There's also the issue of bleed/blight stacks, so you'll need bandages/antidotes. You might possibly switch out the arbalest for a plague doctor, since that'll both prevent the DoT damage and slow down the enemy with blinding powder while you get your riposte/guard up. You can replace the front DPS with a leper or something, maybe even a hellion for YAWP to stun the front row.
Edit: Looks like PM! overrides the original defender target, so this all goes out the window. And no, using PM! on a defended target doesn't redirect it to the MAA.
Let's theorize:
Man-at-arms, antiquarian, 2xDPS. All at level 5/6.
Man-at-arms gets Guardian shield for +10% prot in the back row. (Tough ring might be better and can work at any row though).
Man-at-arms guards 1 DPS, protection is now 55%.
Antiquarian uses PM! (Estimated at 40% at level 5?) For 95% protection.
Hard-Skinned (Quirk) would push that to 100% Or any other protection trinkets really.