Boosting + limiting each track while mixing?

I was just wondering if anyone "masters" each track in the mix and then adjusts the volume that way.

I assume that it would be a convenience because it seems like it would prevent any nasty spikes and allow a consistent mix.

I've just recently gotten into producing, so apologize if this is a silly question--I was just wondering.
 
Seems to me that what you're describing is overcompression. It's a pretty nasty topic to get into. But no, you're not going to want to do that. No mix will ever sound right if you just maximize each signal and stick them together, as that's just counterproductive to mixing.

If nasty spikes are your dilemma, mix them correctly and give them much headroom. Work until you get your tracks t play nice with each other, and then apply your "mastering". Much better cohesive results.