I too liked this idea, but it is just NOT a good way of moving a bike . First off, the driveshaft will still be spinning as you go, and will wear the universal joints unnecessarily. Add to that the way it is hauling the bike puts a lot of stress on the head bearings. I THOROUGHLY researched this, as I could easily build one at home, but it is just not a safe alternative. If i recall correctly, there was one post on one of the lists I read about a bike being hauled this way, and it jumping into first gear, without the owner's notice (while on back). It , of course, blew the engine.
I know the trailer is a PIA, but it's the only safe/sane way to haul a bike. I used a Harbor Freight trailer plus their front wheel chock to haul a bike to Ohio last year, and although a pain, it did work well. I borrowed it locally, (thanks, David!!!) and it worked a treat. I'll probably do it again this year.