I does sound a bit cult-like to decorate a candle with a living person. And it would hardly be a traditional candle.
I do not think Archbishop Lefebvre would like it either. He has said that he wanted people to believe the true Church that he represents. He expressed his abhorrence of anyone who glorifies him. I wish I could find the exact quote because he did not use the word 'glorify' as such but that was the meaning he seemed to convey.