J.H.
No, she is much much too young for that. Positive re-direction is developmentally appropriate for her age. Distract her with a different toy if she is reaching for something dangerous. Model sharing with other kids, give her the words to use. She is just a baby still. Trying her new little wings. Try reading Dr. Sears books on babies and discipline. He is a pediatrician and father of eight! I have found many good tips from him that help me feel like a good parent with a happy little boy.
Positive discipline will build her self esteem instead of tearing it down. She's someone to guide, not control.
Good luck!