No. The action of unplugging an active USB wireless interface and plugging it back in may result in strange system behavior and lock-ups.
Please see this Knowledge Base article:
How can I reset my wireless driver if my wireless card will not associate?
Follow these steps:
Stop the associated wireless network interface (typically labeled as ethX or wlanX):
Stop DriverLoader:
You should now be able to safely remove/unplug the wireless USB interface.