That WILL work, but it has some problems...
If the thief (or someone who's allowed to use the truck, but forgets/isn't aware of the kill switch) leaves the key in RUN too long (potentially, just a few minutes) with the switch in the KILL position, it could kill the battery &/or overheat the coil. Why? Because you're keeping the coil ON, making it essentially a heating coil. It's only designed for high-frequency intermittent operation (very short duty cycle, below 50%). Yes, it can tolerate being held on for several seconds without damage. But as it gets older, that time gets shorter. And even if it doesn't burn out the coil, it's draining the battery about like a headlight bulb would.
A less-risky circuit mod would be to open the positive side of the coil - keeping it OFF instead of ON. Or open almost any of the ignition module circuits (so it never wakes up, or realizes the engine is turning).
This diagram shows a few ways to interrupt the starter with a BIG (high-current) switch: