If you have rubber cement or even contact cement, I'd use that and a piece from an old inner tube rather than the kludge you've put together. If you do try to use an old inner tube, make sure you rough up the makeshift patch and the tube you are repairing very thoroughly. I'd also let it cure overnight before inflating
My only rule of thumb regarding this is to avoid anything makeshift when it comes to tires. I suggest riding to an auto parts store or bike shop and getting a patch kit.