It may be Ok for a very small puncture in the main tread area of the tyre, but is absolutely no use at all in a sidewall blowout.
Also, a small puncture can be repaired in the main tread area, but with that stuff in the tyre, no repair place will do it as the liquid will have contaminated the inner of the tyre.
The best advice is check your tyres regularly and ensure they are kept at the correct pressure.