Yep, it's called "pulse and glide" (or "burn and glide" by some, if you hit the gas really hard). It's a technique that goes
way back -- I remember a
Popular Mechanics or similar from my childhood with an article about a test vehicle that got something like 1,000 miles per gallon by using a tiny engine and doing pulse and glide at very low speeds.
Search the forums for "pulse and glide", "burn and glide", and/or "P&G" and you'll find lots of useful information on the technique.
Pat yourself on the back for thinking of it independently.
Rick
P.S. Haha, good going Mike, you hit your "Save" button three minutes faster than I did!