Consider a closed system consisting of $N$ point particles, whose Lagrangian is given in the standard way, by the total kinetic energy minus the potential energy: $\mathcal{L}(\dot{q},q):= T(\dot{q}) - U(q)$.
This definition of the Lagrangian is invariant under some symmetries but not others. For example, it is preserved under spatial translations, but a Galillean boost -- in which the velocity of every particle is uniformly shifted -- does not preserve the Lagrangian because it doesn't preserve kinetic energy. A single particle moving under no external forces can have any kinetic energy greater or equal to 0.
My question is: Is it possible to formulate the principle of least action and the Euler-Lagrange equations using quantities that are invariant under boosts? For example, suppose I were to define the invariant kinetic energy, $T^*$, as the kinetic energy in the center of momentum frame (or the total kinetic energy minus the velocity of the center of mass times the total mass), and introduce a Lagrangian $\mathcal{L^*}= T^* - U$. What's wrong with the principle that legitimate motions minimize $\int \mathcal{L}^*$?