Sure . . . go ahead.

I suggest using a 3" hole saw bit and space the holes at 3" intervals around the centerline of the wear surface of the rotor.

I think that if you follow my suggestion, you will greatly reduce your unsprung weight (improving handling and ride) and your brakes will never overheat (they'll never even get warm!).

Of course, as with any rotor drilling, you will be reducing the contact surface area, so in most stopping situations, you may notice a slight decrease in breaking ability (whether you notice, or not, will depend on how experienced a driver you are). In dire braking situations, however, (say, at 120 MPH towards a brick wall), you will notice the difference in braking--or, at least your relatives will.

Good luck.

PS--be sure you follow my dimensions exactly, otherwise you will not save any money.