That would not be fair. Time is as much a part of the game as material. Add a couple of seconds of increment to assist with securing the win when in time trouble.
And it is not fair to use more time than your opponent in getting a lead and then to be awarded a win when running out of time because of that lead.
I find it frustrating that i have to play three minute games so that cheats have less time to consult a program in games.
I also find it highly annoying that taking this path means i also have to suffer people who play the clock regular.
I can accept the fact when it's equal material or even a slight material disadvantage but when i am significantly ahead and have to lose to a timeout cos my opponent has one pawn for example is disgusting and hard to take.
imo it should be considered to be a draw if you time out and your opponent is -5 or more material to be fair to all.