I'd say go for it! If you have 3 days time and are willing to experiment with a random idea to get some experience and maybe learn something new. You can always not submit the game and just follow along for yourself :D Just remeber to take the time to plan and have realistic scope.
in my opinion that depends on the limitation this jam is good for beginners but it could get overwhelming fast for me the sky mini jam was to overwhelming and i dropped out so it's mostly up to you