I did it with my solana. Had great results. I don't think it's any more risk as long as you follow instructions.
http://reefkeeping.com/issues/2008-08/nftt/index.php
BTW, why not just dose Zeovit? So much more controlled and proven nutrient export. It's the same theory as vodka except vodka dosing is like the home remedy version while zeo is the bausch & laumb.
i don't know what your actual level of experience in the hobby is, but when i see a post like this in the beginners forum my reaction is that beginners should not be playing around with carbon dosing of any kind. Learn the basics of good reef husbandry first, get some experience under your belt, develop a sense of and ability to detect the health of your system and then you can worry about tinkering with more advanced techniques like carbon dosing.
its for a pico 3gal tank