I do that with my villain character The Infamous (AKA Widowmaker, WorldWeaver, the Warlord, The One, The Reverent Revenant, etc.) However, before that, I did pretty much exactly what you are suggesting. I had made a character who has had various names but was always the same character, and he defended the multiverse from all kinds of threats, namely The Infamous. 

So what if I made both, a villain and a hero?

Oh, and to keep it even more meta, both villain and hero are the same person, just from mirror universes...