I’m not an entomologist, but I highly doubt data like that would be useful for research purposes per se. The life cycle of gulf frits is pretty well known, but the more important thing is that it would only be one caterpillar. In order to get new and useful data, you’d need to record numerous (at least a couple of dozen) larvae. It would also be really important to have a specific question you want to address (or even a broad line of questions), as fitting a question to the data would be really difficult- particularly if you don’t record an absurd amount of data. That’s because a huge number of variables will affect most questions you want to answer. Unless you intentionally control them, some variables will invariably ruin the data for nearly all of the questions you might want to ask.
Of course, that is not to say that you shouldn’t do it- it WOULD be very interesting, fun (hopefully… for you), and other people could potentially find it extremely useful for entertainment and educational/demonstrative purposes.