Will this work in Magic: the Gathering?

Yes, it will work. However, you will not be able to threaten the original creature you targeted.

You cast Threaten targeting a creature. Your opponent plays Counterspell (or other counter) targeting your Threaten. In response, you play Radiate on your original Threaten.

Radiate will resolve first because it is on top of the stack. When it resolves, it puts copies of Threaten equal to the number of other legal targets for Threaten on the stack. The order in which those copies are added are up to you and they will resolve in that order. Once those copies have resolved, the Counterspell will then resolve and will successfully counter the original Threaten.

You will not get the creature you originally targeted, but you will take control of every other creature you could have legally have targeted with when you cast Threaten. Those creatures gain haste and you return them to your opponent at the end of turn.

Better yet: Have a sacrifice outlet, such as Greater Gargadon. Sac all of your opponents creatures to Greater Gargadon.

Daivos states it perfectly. The only thing different is if you don't have the Gargadon, there is also Nantuko Husk, which pumps your creature, or then play a creature with devour to eat your opponents creatures, but under no circumstance should you not attack first with your opponents creatures. This is also a great combo in a multiplayer situation, but for all of this, it does require a lot of mana.