That probably is not a great idea. It makes it very hard to do proper maintenance. Loosing halyards up the mast is not that common occurance. (For example in 38 years of sailing, I only only lost one halyard up a mast, and that was a racing situation that I can recall.) If you are really concerned about loosing a halyard up the mast you might consider a trick that was used on boats with hank on jibs and mainsails with slugs which is to rig a downhaul. This type of downhaul (there are other kinds of downhauls on boats) uses a comparatively light line (3/16 to 1/4") that is tied to the halyard and runs through rings or clips along the luff of the sail about 4 feet apart (the spacing of every second or third hank or slug) to a small block at the tack of the sail and then back to where the sail is hoisted.
It makes it harder to rig the sail since every time you put the sail on you have to run the downhaul through the rings or clips but it does mind the halyards and also give you a way to pull down the sail without leaving the cockpit.