Alcohol is a pretty aggressive chemical that will destroy and remove your comfort strips quickly if left submerged. The alcohol will also slowly destroy the razor itself- not the metal blades but the plastic head and connecting pieces. Many razors were sacrificed during testing, parts of the head and handle would brake due to getting brittle from being submerged for long periods of time.
You will need some form of alcohol isopropyl or liquor (your call, just don't waste good booze) and you will fill the reservoir when it evaporates or starts getting low you will have to refill it. The diaphragms and body are built specifically to hold up to the alcohol and repeated use so no replacement parts should be required.
Avoiding items like fire, rabid rabbits and other hazards your razor could last up to 8 to 10 times longer. The average Razor that we have used for testing lasted anywhere from 8 months to a year. I have used the same inexpensive $2 razor for 8 months.
Oddly enough we found that through testing Ideal Shave can in a way restore older razors that are right on the cusp of being thrown away. Just leave the Razor soak in the alcohol over night and from the tests we have ran the older razors will perform much better on the next shave.
Unfortunately, the answer is no, Ideal Shave will not work with Safety razors. Safety Razors are too wide to fit through the diaphragms and be able to slide through the cambers properly (not trying to body shame).