You can try that but I'm not familiar with how well it works. If you can find it, get Novus. The stuff is awesome on clear plastics, acrylics, etc. I use it all the time here at work and I keep meaning to try it on my headlights but I keep forgetting.
I used some rubbing compound I found in my tool box and then finished up with some carnuba wax. Did the fog lights too. The bugs tend to stick less now and judging from the reactions of other nighttime drivers, the lights are considerably brighter.
Whole task took about 5-10 min. and seems to last about a year or more.