If you have a good strategy with your approach to the short stack I think it can definitely work. If your playing full ring thats your best bet 6 max I wouldn't advise that/your strategy better be good. Like you said I like the risk reward in what your doing. It'll probably be alot of people for and against this, but this strategy can work.
I used to do something similar to this, its been a while, but I would limit myself to 3 short stack by ins, I'd play fairly aggy with the first stack raising as much as I could in as many situations as I could. I would play position as much as possible and when checked to me attempt to take as many small pots down with a position bet as possible with that first stack. I would often 7-10x the amount of my original buy in with a max loss of 3 buy ins. Rarely did I ever lose the 3rd buyin, I definitely made it to 3 buyins because the image i would create with the first stack or two was so loose I knew what I was capable of doing at the table and what spots I could steal and couldn't, essentially playing tight that 3rd buy in. Many times I made it to that 3rd buy in I would still end up positive just because of the loose image I had created
All that aside, I think its all about how you approach the stakes you play with your short stack, plus this can be a good way to become acclimated to the play at the next level of stakes.
i think its a couple things to note with doing this tho. One, BRM comes first, I'm figuring if you can comfortably buy in full at the level below you probably have shortstack money for the next level, but regardless of what happens when you shortstack if lets just say the variance doesn't treat you right in the shortstack efforts, your gonna need to bring it back down to the more comfortable stakes, whether your getting unlucky or feel you can beat the higher level that doesn't matter. recoup some of your lossed buy ins at the more comfortable stakes before you go back in. You can't play scared because your a shortstacked either, and you have to understand what your trying to do/accomplish and how many buyins you plan to allot each session you do this.
If its working and you think your ready for that level i say its your best option if you think on avg your profits will be more doing this. The least you can do is try. I just say, whenever things get rough, no matter what the reason is you gotta have the discipline to know when you have to go back down in stakes. Even when you take losses tho the experience will help you in the long run, but bankroll comes before experience imo