Sure it would work. As long as the fluid isn't squirting out under high pressure to the point where you can't capture it. BED has a point about the leak affecting the proper operation, but if it still drives, and you can't fix the tranny right now, why not?
Seems to be the challenge is capturing it in some kind of pan that is deep enough to keep it from sloshing out, yet not dragging on the road. Not sure what kind of 12v pump you could find, maybe something meant for a small boat? And then would it survive pumping tranny fluid? Would you end up spending just much $ on a pump, pan, tubing, etc as fixing it?
Yes, total redneck engineering, but hey thats part of the fun right? I don't see any safety concerns here.
You hear the old stories about the guy using a piece of a leather belt to replace the shot babbit bearing in the Model A and driving it 20 miles to church every Sunday and that is considered cool, so....