Replying to Winch build idea

Been looking around for a winch but since they cost about a billion dollars I was looking at building one. Then an idea occurred to me. I have a small ATV that I don't ride anymore because moved and don't have much property anymore. So I thought about just using that as my winch. I want to know if it's possible to replace one of the rear wheel with some type of spool. I would then mount it so that neither the spool or other other rear wheel were in contact with the snow. So NS I ask will this work?