Yes. As long as you're doing a simple composite signal. I've run this through the artery system of a space before. With that said, remember you you introduce noise if you run this with/alongside other XLR cables / power / etc.
In theory it should vaguely work but running it anywhere near audio or power which is usually where XLR audio cabling is routed is a recipe for interference with both the video and the audio.
OK. This is for some friends and I are playing Wii in our auditorium and figuring out how to connect to the projector and sound system. It sounds like it will work for this, but not a good idea for an event.