yes, sorta. Go to game data utility, at the top of the game tab, delete your mw2 data. This will delete your purchased maps from the hard drive, if you have any, and the patch. Then use a patch blocker from the internet to access online without downloading the patches. Then go to splitscreen or LAN party. You won't be able to get into a multiplayer game without the patch, since everyone else has to play with the patch. This should allow you to do elevator glitch now.
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Elevators Do Not Work Anymore After The DashBoard Patch!!
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Yes. Any modding of the game, no matter what game type you are playing, can get you banned on an online account. This does not include getting out of maps/glitches in system.