And no, no free pass.
While deliberately sinning won’t cost you your salvation, once you are under God’s ownership, He will not rest until he conforms you into the image of His Son, and He will work to remove the sin from your life.
He will not allow a child of His to go on in such a self-destructive path without intervening.
The chastisement and discipline of the Lord is something that someone who sins deliberately has to deal with.
God may, and does, take away refractory, ungovernable spiritual children. Ananias. Sapphira. people I have observed in this time. (Ac. 5:1, Heb. 12:7-8)