Karger's algorithm for bin-packing?

Karger's algorithm for bin-packing?

I first came across that algorithm as the "Random minimum cut" algorithm.
And recently a colleague was trying to pack a big quantity of small
textures into one image file. Then it clicked ... why not using Krauger
into this bin packing problem?
Unfortunately I am blocked at finding a good way to map this problem to a
graph defined in order to minimize the wasted space between images.
Here I define the minimum cut as "the atlas with less blank filler
pixels". So I need to generate a graph that represent a "distance" between
images as an edge. Any suggestion on what type of distance to use?
Here is the first idea I had: - Given image A(w, h) where w is width and h
i height, if B(w', h') exists for w = w' or h = h' then create edge
between A and B. (The same rule with a certain tolerance could be used,
like + or - 1%).
I would be very surprised if I am the first one to think about this. So if
anybody knows about anything similar that has been done, please do say so.