basically a blocked punt and would not result in being a live ball. It would be treated like a fumble and would need to be picked up by the kicking team and advanced for a first down.

Think of it this way, how many punts that have been blocked, have been picked up by the kicking team and advanced for a first down? I don't believe I've ever seen that. You are assuming drilling a defender that it would bounce just perfectly that the kicking team could recover it and advance it for a first down if necessary. I would guess what you are suggesting would be <.01% chance of working.