That's a neat idea.
There was a game
Haunting starring Polterguy for Sega Genesis where if you got too low on ectoplasm, you were sent to a hell like place where you had to refill it in order to come back to the house to continue haunting. Maybe something like that if you float away?
Hmm. I didn't think of the player being the "bad guy". That could be really cool.