No. Your tuning stability would likely be screwed and I imagine that the bar would be damaged after a while because those trems aren't made for that kind of abuse.
#can you do van halen-esque tremolo stuff with a tremotone tailpiece?
steady harness
steady harness
It might be able to do stuff like that. I'm not sure if it would have that much range to do that, but it's most likely possible. It still won't be as good as a floyd, or even a fender style trem, but it might be able to pull off small dive bombs.