Do you read this as literal?
I'm asking because of your statements about the flesh causes us to sin.
It seems a bit toward a teaching of duality in Material (Matter) versus Spiritual or Body (evil) versus Soul (good).
Allow me to answer this way. If no other method could stop me from sinning, then yes. However, I use that scripture to emphasize the importance of not sinning. If anything is that important, I’m sure that any human would have the personal will power to stop sinning prior to reaching that ultimate solution.
Thus literal, yes, but only as a last resort if all else fails. After all, That sin will cause the physical death anyway and create much more discomfort in the long run.
In reality, the flesh does not cause us to sin. It is the weakness in our soul that formulates its identity based upon the flesh. Dying daily is the process of losing that identity. Does that mean literally to die? Yes, but not a death of the physical body. It is a death of the false self or association with the flesh.