Well not completely, otherwise you could start making arguments about playing 72o ♦.
Very important in this situation is the villain's raising standards.
Someone playing the SHC will be around 8%.
Someone playing the ORC will be around 10-15%
He's in the cutoff with one limper so let's take his ranges around the 10%
So you've got a slight equity disadvantage here against him
equity (%) win (%) tie (%)
Hand 1: 48.3074 % 47.77% 00.54% { 99 }
Hand 2: 51.6926 % 51.15% 00.54% { 88+, A9s+, KTs+, QTs+, AJo+, KJo+, QJo }
He only calls after your 3bet so it's probably either a pair beneath JJ or 2 expected overcards, which means that the flop texture and play will likely decide the hand.
I made this play a lot during my last 2 weeks on the beginner tables and it usually paid off.
99 is a tad too low for average stats though.
If we pokerstove TT for example.
equity (%) win (%) tie (%)
Hand 1: 52.4813 % 51.91% 00.57% { TT }
Hand 2: 47.5187 % 46.95% 00.57% { 88+, A9s+, KTs+, QTs+, AJo+, KJo+, QJo }
We have a nice equity advantage and this play would be completely correct.
Should he be more aggressive and raise 15% of his hands on the cutoff, we'd have a advantage with 99 as well.
In the end, the concept is good, but it is really important to adapt it to the villain in question and not just use it as a general move. Generally it only really pays off if you already have a slight equity advantage against his average hand. Otherwise it becomes a bit of a semi-bluff manouver with too few outs and that can hurt in the long run.