I say go for it. I love ficus elastica as trees but this does look a little leggy especially without any offshoot branches.

You don’t need as much stem for the bottom section as I’ve shown but it’s easier to stick in a glass jar if you have something longer than a stub.

I would water propagate as personally I find it works best for me but I’ll leave others to add their input too.

There are plenty of reliable sources online for propagating that give step by step guides as well as useful tips on what you should and shouldn’t do. May be helpful if you have never propagated before to run by a few of those before making the cuts.

Good luck and keep us updated :)