That's not very efficient. When you shut down one engine you have to use a lot of rudder and aileron to keep the plane going straight, all of those control deflections create a lot of drag. For maximum fuel efficiency and speed you want to keep all engines on and throttle down to the appropriate cruise settings.
You think. Have you actually talked to a P-38 pilot, or a P-38 engineer, or a P-38 test pilot?
Because what you think, and what may apply to one plane, does not necessarily apply to all planes.
The P-38 was excellent on one engine, it still had plenty of power to cruise, even to climb, at a reduced rate.
I suggest you search and read what Captain Stan Richardson Jr. wrote about the P-38 on one engine, as he was assigned to train pilots, and single engine training was part of it.