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I suppose it's possible and it's worth not underestimating the stupidity of certain NFL teams, but I don't see why other teams would be less wary than the Patriots when it comes to signing him to big money. Seems like a rather foolish gamble, IMO.
I also don't think we've seen enough from Cannon to establish that he's capable of starting at RT, though I also certainly wouldn't foreclose on that being a possibility.
Take a team without a ton of cap space, with a glaring need at either tackle position, and with a GM who may be fired if he doesn't improve, and it's a risk that I could easily see some team taking. If the risky signings pay off, they look like a genius- if not, no more fired than they would have been if they hadn't taken the risk in the first place.
Not having to take big gambles to save your job is a luxury that a lot of NFL GMs don't have.