I think if you really want to do it you should, but don't expect it to turn out perfect first time, and be ready for it to come out lighter than you think (it might not even go ginger).
I prelightened my brown hair about 2 years ago and for some reason the roots turned out bleach blonde and the ends were a weird light brown! So be careful and make sure you apply it all at the same time, or time each section because say if you spend 10 mins doing the roots and then 10 on the ends, the roots will be blonde by the time you have finished applying.
It will damage your hair as all dyes do, but it shouldn't fall out, especially if you are not prelightening all the way to blonde. Mine didn't fall out (and mine is very thin) so as long as you cut it and condition it regularly like you are planning to, it should be okay.
Good luck!