Nope. Athletes foot is a fungal infection of the skin of your feet caused by a great environment of warmth, darkness and moisture. Vicks will not help. Need an anti-fungal medication as well as cleaning your shoes and keeping your feet dry.
I don't know. If that is someone's home remedy for athlete's foot, I've never heard of it. Some home remedies are useful, some are not. How about this one: buy an antifungal cream and take better care of you feet. Change out you shoes regularly so that the insoles are dry and fungus is less likely to grow in them. That sounds like a better idea than walking around with your feet smelling like vicks.