I tried it, it didn't work well.
I ended up with wonky hair sticking up in loops, the top of my head looked square like Frankenstein or something. I had clipped mostly the top, a little of the sides. My hair stays in whatever shape it dries in, hence the funny loops and squarish top. It was hard to get the hang of clipping the whole loop, my hair clumps so much that it was hard to separate curls for loops. Oh well. Maybe I'll try again some time just for fun.