You can use whatever word you want, but that sounds a little too 'British' for me.
When I was growing up the word FAG struck fear into the hearts of us colored boys, it was probably worse than calling us NIGGER.
Not only did it give someone a stigma they didn't want but if the epithet stuck then they had to fight their way out of it afterwards.
"FAG struck fear into the hearts of us"
Now that was the all purpose, color blind, fightin' words insult!