Yes, I can see how that would work. Alcohol is toxic to most insects. If it can just get into their spiracles (air holes) it will render a flying bug unable to fly. I just use Windex, personally.
Maybe instead throw rocks at it or place marbles on the floor so it slips or one of many other idiotic things you could do that wont help at all....
I know it sounds retarded, but I had a huge palmetto bug in the kitchen this morning (summer in Florida....) and since they run so fast we have to use something to slow them down in order to kill them. My husband sprayed febreeze on it to slow it down but it was already near the dishwasher and it went under. All day I've been dreading going in the kitchen and it hasn't appeared at least not in front of me. But it made me curious, could it be rendered less mobile by the spray or something??