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Not to the extent that motor oil does, if at all. But, that said, the amount o ATF added to fuel, at least in the process of homemade Octane Boosters is such a small amount compared to the overall volume that I seriously doubt you would ever see any ill effects even if motor oil were used.
I've used trans fluid as a degreaser before (last resort type of cleaner). I've also heard of oil pans being ripped off and the car still running for a bit. So if this is true, then yes you can run trans fluid in your car for a longer period of time than no oil. I think I'll stick with motor oil.
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