That's comparable to running your fuel line through the tires on a smoke belcher. The lams forming the iron core are generally not isolated from the axle, and it will short to the rotor via the bearings. Good try though as I haven't seen that idea come up on the forum....On to the next idea.
FWIW, motors with axles appropriately sized for safety considerations have sufficient space for phase wires. The problem is they don't fit into standard bicycle dropouts, so it's the connection to the bike that needs improvement, though room temperature superconductors is the dreams come true solution. For the weight weenies, instead a heavy solid rod for an axle, do what Farfle did and go to an even bigger diameter but hollow for strength and plenty of space for wires, coolant flow tubes, whatever.