If you drop players they're just gonna get more and more defensive with each player as each team knows that one mistake and that could be it. They would drop their attacking players first, although some teams might try to retain a couple of star attackers until it got down to the last few. Touch and soccer are different games so I doubt it would work, in touch you need to run a ball over a line not kick a ball into a goal.
The only thing I don't like about Golden Goal is that we dcan't have four goal flurries in Extra Time anymore. How about ten minutes each way extra time, ten minutes each way golden goal, and then shootouts. Or advantage extra time, 15 each way but a two goal lead golden goal. Where if you score once in extra time the game continues, but if you get a two goal lead game over... If extra time elapses and you're one goal ahead you win anyway.