Again, it's a cool idea, but I think it wasn't developed by Decipher because it just doesn't make much sense.
Vitality is difficult to come by for the Free Peoples player. Your suggestion has the Free Peoples player wagering his her own vitality against more of his or her own vitality. Additionally, while Smeagol is just strength three, you are still dealing with the fact that you are taking away a Free Peoples companion that *has* to be assigned to another companion.
Finally, at strength three, most companions besides Hobbits will overwhelm Smeagol. If he is overwhelmed, he doesn't die because of a wound. He just dies. And he goes to the dead pile and activates threats. It's basically a free kill of a companion who can be important to a deck design or strategy.
Here's another thought that might be along the lines of what you are looking for [in flavor].
![2 [2]](https://lotrtcgdb.com/forums/Smileys/classic/2.png)
*Gollum, Greater Mind
![Gollum [Gollum]](https://lotrtcgdb.com/forums/Smileys/classic/gollum.png)
Minion
Strength 5, Vitality 4, Site 3
Maneuver: Spot Smeagol and exert Gollum twice to make Gollum strength +X and Smeagol strength -X, where X is Smeagol's strength. The Free Peoples player can add two burdens to prevent this.
Still a lot of game text, but I think it does what you kind of want without entirely hamstringing a deck that uses Smeagol as a main fighter (like
Smeagol, Always Helps, Smeagol,
Stinker, or
Smeagol, Poor Creature).
-wtk