But this how folk etymologies emerge, because people find familiar-looking connections that "make sense" without much supporting evidence. You're using modern Norwegian to form a theory about the origin of an ancient word in a different language.
The fact is, we simply don't know for sure where the word "viking" comes from. The word was essentially invented in the 18th century to mean something other than the original meaning; the word was not so common during the Viking age, and almost certainly wasn't used at the time to refer to an entire culture or people.
We are not even sure if it is of Norse or English origin, and it's unclear who called them this first. The Old English "wic" meaning village or camp predates "viking" by several hundred years [1], and the Latin "vicus" is much older. The oldest sources we have for the word (as "wicing" or "witsing", both pronounced the same) are Old English texts; it's not unlikely that the word was first used by Anglo-Saxons to refer to "pirates" from the North, and that the word was then adopted by the latter.
Another possibility, as seen in the Widsith text, which refers to a tribe as "wicinga cynn", is that it refers to the historical geographical area of Vík (or Víkin) which today is the area surrounding the Oslo fjord.
[1] https://www.etymonline.com/word/Viking