That's a great strategy, but remember: if you hit ANY Pokemon that keeps runnuing away like Entei or Raikou, it won't recover HP in the next time you meet it, so use weak attacks before using this strategy to have a bigger chance of catching it; and give your Pokemon a recovery item like Leftover. If you do this, your Pokemon will recover energy when these Pokemons attack.
For Raikou, I suggest to catch a Diglett with Arena Trap first, because Arena Trap won't let it escape, and Diglett is immune to electric type moves.