Not really. Because wigs are composed of wefts (those lines of hair you can see when you turn a wig inside-out), spiking a wig meant to be worn down will result in lovely gaps between the wefts. There are wigs done specifically for spiked styles, like the ever-popular Punky; I'm pretty sure there are short black wigs out there which come prespiked, but if you're going to cut/style one down, make sure you get something that's meant for those sorts of punked styles rather than being worn down.
Thanks for the tips! I'll have to look into that.
Sayda, just a warning, if you do use the nose putty, make sure you have plenty of lotion on hand. The stuff sticks to EVERYTHING, and lotion was the only method I had to cut it. What I did was put a dab of lotion on a clean wash cloth, then scoop up as much putty as I could (the stuff stuck to my finger too much to apply it that way). Then I'd rub that on the eyebrow, trying to get as much putty off the washcloth and on the brow as possible. After that, I smoothed it out with a finger (with lotion; I can't stress that enough). It had a tendency to crack where the putty met my face, and I couldn't raise my eyebrows or do any other exaggerated expressions (but as Nikki said, I luckily didn't have to XD). To take it off I put more lotion on a washcloth and scrubbed a bunch.
That putty should be pretty cheap right around/after Halloween, so it might be worth it to get some and experiment. If you can find a method that looks better/is easier to apply, I'd really like to know about it. The putty is a bit of a pain. :/