Won't help you a bit to do that. By the time the coyote is close enough to see it, he should be belly up. If he's in a position to smell the bait (downwind), he should also already be belly up.
Baiting in most places, dead or alive, is illegal. Hunting over gut piles or that type of thing usually isn't.
The stuff you see about live bait, breaking rabbit's legs, tying them to stakes, nailing out cats, etc., are made by slob "hunters" looking to increase their odds any way they can, and to offset their lack of hunting knowledge and skill. They are people looking for furry, reactionary targets, and not overly interested in ethics or the satisfaction of the hunt itself.
This usually raises the hackles quick on ethical hunters, and the subsequent discussion can get pretty heated. Glad to see you just had an honest and innocent question, and took the answer well. It is just that most of us consider ourselves highly ethical hunters, and hate to give the PETA types ammo (slob hunters and cruelty to animals) to use against us.
A mechanical decoy might be what you're looking for. Many use them with success. Keeps the coyote's attention away from you, and gives them a little visual stimulus to go along with what they're hearing.
You'll have to take your lumps (initial lack of success), but if you keep at it and work hard, they will come eventually.