I don’t think building a relationship dynamic like that is a good idea.
Yes, you should state that you don’t like and won’t accept their behavior. If they won’t change, and you really can’t accept their behavior, you should just end the relationship.
Punishing and playing withholding games, only ratchets up the mean, abusive dynamic and creates an unhealthier relationship.
As a parent I never did a time out. I know some parents do. I just talked about why their behavior was unacceptable and didn’t accept it by not giving in and rewarding them for it. This worked for my family. I think the same goes in a romantic relationship.
(I guess I should add that my adult son is currently not speaking to me because I did exactly the good parenting I just stated above.

Sometimes, the consequences are the end of the relationship, but that’s what happens when you have self esteem and truly don’t accept the unacceptable)