Naw, think it through thoroughly. Even if you could cut through the first wheel/tire (unlikely) and you could separate the cut to fit the lock through (extremely unlikely - you'd have to pull it sideways because the spokes wouldn't allow you to pull it apart, and pulling it sideways ain't gonna happen because in order to do that you'd have to have a surgical cut) then you cut the second wheel (even more unlikely) because of the frame you couldn't pull the wheel apart to get it off the lock. This method of locking a bike is tried-and-true, and the only times I've heard of it failing is when the lock itself is broken.