If the OP's method works at all, I'd be surprised. Why do we bother with rigid tapping if we can just guess a spindle speed and run a tap down the hole?
That said, you could 'hob' the gear by using a rigid tapping cycle, and run the hob past the gear just as though it were a worm running across a stationery gear. Then index the gear one tooth and rigid tap the next one. It would be a lot of tapping cycles!
I've cut worm gears this way with a single tooth flycutter. Typically, I'd cut several times around with advancing depths. Then when full depth is reached, I do a partial index of the gear blank (say 1/2 a tooth), change the height of the rigid tapping cycle, and run it through again. This time, the cutter takes just a light shaving off the tooth face to help generate the involute curve. Do this in about 6 different positions, and you get a reasonable facimile of a hobbed tooth.
Now if you actually have a hob, then you might get away with fewer partial indexings to generate a nice tooth.
First you get good, then you get fast. Then grouchiness sets in.
(Note: The opinions expressed in this post are my own and are not necessarily those of CNCzone and its management)