I would think a matriarchal society would function depending on how you pull it off. The woman to man ratio would have to be such that there would be more women than men 3 or 4 to one most likely. A society like that could function a couple of different ways.
1. A polygamist society where each man acts as "husband" or "mate" to several women, since they would outnumber the men 3 or 4 to one or more. Being more numerous, the woman would be the hunters while the men stayed behind to watch/teach the children and grow the crops/raise livestock aside from the housekeeping.
2. A structured society where each gender has their own hierarchy, though the males are higher on the "totem pole" in most areas. The women are the warriors and hunters, protectors of the clan. The men rule the within the village, which is somewhat fluid in regards to the relationship between men and women. Historically women tended to go with the stronger, more dominant men for their babies to be more dominant. This type of society is that way, where there is a "top man" who takes what women he wants by force of presence, and lets the other men fight out who gets what woman.