The Secret Plan

Frosty Jr.'s plan was very complex and could be simplified easily. He got the ring of power to help him try to kill Legolas. The ring would make the Fellowship confused and high. Frosty Jr. would slip into Frodo and Legolas' apartment and put the ring in their room. If he was seen he would form into a new shape makin them confused and high. He made his trip and came back safe and sound. IS this the end for the Fellowship?