So I got this really annoying flat on a new tube, I guess I cranked down too hard on the presta lockring, and squeezed the rubber so tight against the valve hole that I got an un-patchable pinch-flat right at the base of the valve.

So I was thinking, that little lockring is useful for trying to put a pump on the valve when it's totally flat, so the valve doesn't get all pushed in (although you could also hold the valve out by just pressing with your thumb through the tire).

What if I took a second lockring and screwed it all the way to the base of the valve _before_ putting the tube on, so it is inside the rim, and then another outside?

On the one hand, I would be able to lock the position of the stem without applying pressure to the tube; no worries pushing or pulling hard to get a pump on or off. And no worries about screwing the outer lockring too tight, it would only put (desirable) pressure on the other lockring.

But on the other hand, under 120psi, would the lockring between the tube and inner rim cause a flat because of continual micro-rubbing every time the wheel goes around?