In Judo this is called “do-jime.” It’s a forbidden technique.
Like doing head-scissors, I can’t help but see this as a sissy move. No technique, all about crotch strength. You can use your mom’s old Susanne Summers’ Thighmaster to develop this move.
If you have nothing better to do in the guard than squeeze your opponent then you suck at Jiu Jitsu.