Absolutely No, I don't think it's a good idea. This requires you to login 4-5 times a day which is impossible if you have to work on a day, or do something else. The gap between people who are able to login every hour and people who cannot login more than once a day becomes bigger. If you get two injuries and a red card during a match and you play the next match in 180/2 = 90 minutes. You have a big disadvantage. This will result in more people dropping out and not being able to manage it.
Instead, introducing a youth competition (with 16-18 year old players which can be promoted to the original team if they are 18) might be an idea.