I think it would be a very destabilizing idea. When we eradicate memory partially through repression, we're cut off from powerful parts of ourselves- I know that from experience.

Have you considered doing trauma work with a highly qualified therapist- they can help you take the excruciating memories and transform them into quite manageable ones where your other life experiences and future balance them out so much better that the venom is sucked out of them.

In a way, it gives you what you want, but you retain all your power, all of yourself rather than trying to erase your experience which would also erase part of you.

P.S. I know that feeling of memories that would drive me insane, that exceeded my capacity to hold them- but my therapist is an experienced PTSD therapist, and was able to share them with me and hold them for me- we worked hard together and while the work was painful, like surgery sometimes, spiritually, it was wonderfully healing and she kept it manageable, very hard, but manageable.