First of all, not all business types are measured by gross revenue. Some are measured by the number of employees. Then, the revenue used to determine small business status is not just the current year, but the average of the last three years. Also, I suspect (but don't know for sure) that there would be serious tax consequences for trying to do this. Finally, to do this intentionally for the purpose of claiming small business status when it is not justified and to use that phony status as a basis for obtaining contracts or other benefits from the federal government would be fraud.
Beyond the fact that attempting to defraud the federal government is a really dumb idea given the financial and criminal penalties, a company's small business status is something that can be challenged by its competitors in a federal procurement. The competitor can protest to the contracting officer. The contracting office then refers the matter to the Small Business Administration which investigates. Of course, if the whole matter starts smelling of fraud, the FBI is likely to get involved.