Nope. When Rayleigh puts the pressure on BB would probably have to release Boa. How is it now again, BB usually spams quakes from left arm and yami from his right arm? So that means BBs yami is not in effect against Ray when holding Boa, bad situation against Ray.
Even if he can use both fruits with both arms he would be handicapped without both arms as he can't use both at the same time or even follow up properly. Like a boxer with a jab but without the straight right that always comes after it for the 1-2.