Well, it'll take four short rests, not two, but otherwise, yes, this works.
An
item
can
be
attuned
to
only
one
creature
at
a
time,
and
a
creature
can
be
attuned
to
no
more
than
three
magic
items
at
a
time.
Any
attempt
to
attune
to
a
fourth
item
fails;
the
creature
must
end
its
attunement
to
an
item
first.
So at the start of the day, the wizard has to end his attunement to one of his other items before he can attune to the Pearl of Power. Similarly, after using the Pearl, the wizard can't just attune to the other item; he has to end his attunement to the Pearl first.
A
creature’s
attunement
to
an
item
ends
if
the
creature
no
longer
satisfies
the
prerequisites
for
attunement,
if
the
item
has
been
more
than
100
feet
away
for
at
least
24
hours,
if
the
creature
dies,
or
if
another
creature
attunes
to
the
item.
A
creature
can also
voluntarily
end
attunement
by
spending
another
short
rest
focused
on
the
item,
unless
the
item
is
cursed.
And in order to end his attunement, he has to:
- Not be a spellcaster, which is basically impossible.
- Keep it more than 100 feet away for 24 hours, which breaks the point of this.
- Die (Yikes!)
- Have another creature attune to the item in question. This could work, but it'd require them to spend a short rest, so he'd have to wait 1 hour and then take his short rest to attune to the other item.
- Take a short rest himself.