Ok, I'm in a bad position, but I have a plan. How can I make this work?

Okay, so it's me (yellow, TEC) and two other guys (dark blue, Advent, and red, Vasari) playing against 4 hard AI. Due to a crappy strategic location, I got two massive enemy fleets chewing on my ends, so I went from 4 planets down to 1 last stand. To add to the bad location, there are absolutely no crystal asteroids besides the one on my home planet near me. I've decided that a last stand would be pointless, as I don't have the funds necessary to wage a war. So, I have taken a different approach.
I will begin by deleting my logistic structures and replacing them all with civilian research. Then, I will research wormhole colonization. You can see that my fleet is at my home planet, but part of red's fleet is too. So, I will amass all my forces, including colony ships + capital ship with colonize ability, then I will take the journey to the wormhole. I will not stop to fight anyone, just to get to the wormhole as fast as I can. Meanwhile, red's fleet will try to keep my last planet alive for as long as possible.
When my fleet reaches the wormhole, we will use it to get to the other side of the system, near my allies. At this point, dark blue will abandon four of his planets near red, which my fleet will colonize and move my capital planet to. Then, with allies on both my flanks, I will harvest resources, build a fleet, and go from there.
Can this work? Any tips on how to increase my chances of victory?