I don't think that is a good idea, there could be legal ramifications to that. A dangerous pit is likely to be put down if it attacks someone. You would most likely end up in court after that as well.
If you don't want the kids to play with the dog, take him with you wherever you go, and post signs around your property, like no trespassing violators will be prosecuted. Hope this helps, good luck.

 Anybody other than law enforcement who purposely trains a dog to attack just to say i have a bad ass dog should not own a dog. I raised rottweilers for several years and they were treated right and taken care of. They were the best behaved animals i ever owned. Great with kids even though they had a bad reputation because of people that purposely raised them to attack. Get a new hobby like gardening. It could save your life.