Sure, but in practice it's used to mean just being electrically shocked. Words aren't tied to the meaning implied by their etymology.
I suspect a dictionary might accept it as an 'informal' alternative to the main 'death by' definition.
Laziness subsided, my Collins (complete, 2016) - which is a rather accepting dictionary of new-fangled words or usages - has only two definitions, both involving death. (1. to kill as a result of electric shock; 2. (US) to execute in an electric chair).