In theory it should work perfectly as long as this is what you are going for. Ive done this a few times and found that it will get you in the ballpark.
I believe the theory behind it is if you take a track ... any track ... and duplicate it(same volume as the original), then your output increases 3db. This is true no matter the source material or no matter how loud/quiet it is. Two duplicate waves at the same volume adds 3db. I might be slightly wrong on the science, but the basic premise of what is going on is in there somewhere lol
so using that theory, if your kick is at -3, and adding in the bass pushes it to 0(3 db gain), then the bass should be the same volume level as the kick at this point(in order to have created a 3db gain).
Still, youd want to hear it in the context of the song, and Id trust your ears before I trusted the trick.
If you do it and the bass sounds too loud or too quiet or whatever... dont feel like you did something wrong or dont feel the need to keep it there because 'science' presents a theory that says they are at the same level.
I would suggest this trick to somebody struggling with figuring out where the bass should go in the mix. If you always find that you think its good til you audition the track somewhere, and in your car or wherever you find the bass is super overbearing.... or you do the exact opposite and overcorrect and have the bass too quiet......an approach like this will help you in getting the level of the bass reasonably close to the ballpark.
If you know what you are going for and consistently produce a result that you like, then definitely I'd let your ears be the final judge.