It might work at a few hundred kilohertz, but not much more. The larger the diodes get, so do their stray capacitances, which limit the switching speed. I have done the same thing in the past with low level mixers, then amplify it up to 100W pep. During the peak of the solar cycle, it did quite well.
+-RH
p.s. All mixers exhibit something called conversion loss. In low level mixers its usually about 7dB...so for 100W pep, you would have to drive the carrier port with about 500 watts....kinda lossy.