Definitely not. I would rather save myself and let everyone else burn.
Which is precisely, I think, why it doesn't work. If you have the power to save everyone by condemning yourself, then you have the power to do the opposite of condemning everyone to save yourself. And most selfish human beings would choose the latter.
Ironically, this is a valuable lesson for people pleasers who self-harm on behalf of others: no amount of sacrificing yourself will save other people from anything temporal either, and to do so is enabling. People need to solve their own problems, in this case, by believing the Gospel. So no, I'm not going to sacrifice my eternal destiny to enable your unbelief. Too bad.