Can you use a normal volume/tone pot as a pickup blender?

It’s a poor idea, which will attenuate a LOT of output in the middle range of the pot.

Why would you want to do this?

As others have said, get a MN blend pot and be happy.
 
Because I want a stacked blend and master volume and the only pot I found is like $70 so I wanted to know if I could do it cheaper. Also purely for the knowledge and because it's interesting
There are a handful of active preamps that use a stacked blend and master volume. The ACG EQ01 is the only one I have experience with. It’s nice. But there’s a reason that you don’t see it very often, and that’s because to do it properly you’d need a triple-gang pot.
 
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Your idea is functional, but not practical. Pickups are very high impedance - around 10 MegOhms, so a pot of less value will likely have very little effect. Then if you use a pot of 10-100 M there will be a huge amount of loss. The impedamce of the pot will also interact with the coupound impedances of the pickup, making the sound funky. Blend pots work because they shunt the unwanted part of the signal to ground. You can't do that with a single element pot and a passive circuit. Sorry!

Stacked blend and volume would require 3 sections - probably too deep for most bodies.
 
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Your idea is functional, but not practical. Pickups are very high impedance - around 10 MegOhms, so a pot of less value will likely have very little effect. Then if you use a pot of 10-100 M there will be a huge amount of loss. The impedamce of the pot will also interact with the coupound impedances of the pickup, making the sound funky. Blend pots work because they shunt the unwanted part of the signal to ground. You can't do that with a single element pot and a passive circuit. Sorry!

What pickups are you using? Passive pickups are generally around 12K (or as little as 8K or as much as 15K, but in that region).