Rodney
Yeah, that could work. I suggest you make sure to let someone you don't like take the first swing. Paper wasp piñata might turn out to be similar to this thread, results not very surprising to anyone with considerable forum experience.

On a more technical note, are you sure you hit the entrance hole with the spray and got sufficient saturation of the paper with the product? I've used spray on nests more than twice that big and 1/2 a can was enough to get the job done. You must live in a city, around here we wouldn't consider that a large nest. You would have been frightfully close to it while spraying, I wonder how you got the window closed fast enough.

I once felled a tree without noticing a big nest in the falling path and they chased me through the woods as fast as I could run (and I was young and faster then) stinging all the while, after about a half mile I dropped and rolled, like putting out burning clothing, to stop the attack by squashing the few that were still with me as they stung. Your nest may be one of the jobs that calls for a professional. If you do as you suggest then, yes, video the whole thing, it is likely to be both instructional and amusing.