It might work. If you do that, pot up the bottom, too. It might send out new shoot(s) at ground level. Variegata are nice, the
flowers are pretty, but mine will not set
seed with any of my other aloe, even ones that will set
seed with its pollen. How much sun does it get/are you giving the offsets? They want a lot of sun, this species especially. That may have been why it got leggy. No, you can't burry it up to the green part, it wants its surface roots. Let us know what you decide to do, plaese.