Would it work?

Would it work?

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there are no engines, so no, nor are there any wings for lift.

No

yes, as long as its first carried on a larger aircraft that would 'slingshot' it mid air

then it would just be a glider, it wouldn't be able to maintain an altitude by itself.

It wouldn’t even be a glider because the only lift is at the rear. It would be a bomb without an explosive payload.

Wings on an aircraft actually produce very little lift and are mostly used for cruising at a given alltitude.
Angle of attack produces much more lift and is why planes can fly upside down without plummeting into the ground.

A plan like the one you have shown might work for a little bit but would probably need to move really fast through the air to remain in control and can't produce any thrust without an engine.

how does it balance on 1 wheel

Looks like something this guy and his crew would fly.

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One of those Segway systems?