Yes, this can work! But as with all parrot species, it is important to choose a parrot companion wisely. Parrots are flock animals, and budgies are not flocked animals, so giving a parrot a companion who does not require the flock environment is ideal.
Just make sure that the ring-neck parrot and the budgie understand that they are flock companions and you will have a great mixed flock! One more thing to keep in mind, budgies and parrots can be noisy. Be sure that you can handle the noise before adding a parrot to your home.