That is certainly one way to do it from a risk management approach to come out with a profit when betting on one team throughout the playoffs. The hotel and party for parade is a nice touch as well.
However, here's a more fun approach:
Take the allotted $2,800 and do the following:
Place $1400 on the Browns +1800 to win the AFC Championship. Collect your $25,200 and book a flight, hotel room (if you stay at Aria ask for the Billy Manziel suite) and Super Bowl ticket.
Place the other $1,400 on the Browns +3500 to win the Super Bowl. Upon conclusion of the Super Bowl and amongst the pandemonium of the Browns win, watch the $49,000 hit your account and go nuts in Vegas.
Place the bets now! It's the season of dreams.