no time to set

[7Rock]

Originally posted by Ed Hickland
Under 3-6-3 the referee has the authority to either stop or start the clock if in his judgement a team is attempting to conserve or consume time illegally.

So, under this rule, a team that is at the fifty yard line with a fourth and thirty to go with two minutes left in the half, can`t just have someone move before the snap and take the five yard penalty, let the ref restart the clock, let it run down and do it again until there is no time left, so they don`t have to punt and give the other team a chance to score?
This is assuming that the clock was still running after the third down play, as in a QB sack.