My question is will this work?

I was just about to reply : Of course it will work - why do you have a doubt ?

But Steve has a point on the temperature issue and particularly in this project where Abhishek seems to be having a overheating problem. In that case relay contacts are a better option - and for this application you get those cute DIP relays that mount on IC bases. Not only that they have a mechanical endurance that is ten times more than thier bigger counterparts...and they are available with 5V coils.

Raghu