Counterproductive, I'm afraid. Do you realize how much explosives could be packed into 4 prosthetic limbs???
I did hear a possibility from a writer in Israel, though. He suggests that the Israelis make it public policy that the remaining family of any suicide bombers will automatically be deported and banned from ever returning again. I think that actually might help deter some of them. What's the point of "fighting for the land" if you know your family will never see it again?