Budget and your situation being what they are, I can understand why you ride what you have. However, I do not think that I would advise this stunt on that bike. It would apear to me that you would enjoy a 29'er. The wheels are 700c with fat knobby tires, like a mtb mascarading as a hybrid.

You could always see if you can fit 29'er tires in your frame to get more shock absorbtion. Mentioning shock absorbtion, I'm not sure that shock fork could take such a drop anymore than the wheels.