No, it is NOT a good idea to use larger than 0.5 gallon tank with the Smartjet. The Smartjet has a low power motor and goes only up to 35 psi (according to Iwata spec). If you want the tank of air to last longer, switch to the Powerjet or the Sparmax TC-620. The more powerful motors have pressure capability up to 70-80 psi.
The Smartjet will run too long and get too hot filling a larger tank.