Not sure I'm following what you're saying, but I don't think it gets to the right product. What class of molecule are we making in the end? It's not an alcohol.
Peracids are 'code reagents' for this level of organic. Whenever you see a peracid (mCPBA, peracetic acid, or anything than ends -CO3H, you should immediately think this class of product. For this level of organic chemistry, peracids do one and only one transformation. Alkenes to... ?