Not even remotely possibly. There are just to many factors that make the 3770K better and just plain modern.
Why? Are you competing with someone?
No, i just don't understand overclocking. How about the fx-8350?
Overclocking can give you at most a 20% real world improvement.
The FX8350 needs a bit of an OC to come up to the I7. Unfortunately to do it the 8350 uses more than 3 times the power and gererates A LOT more heat. Spending money on that cooling, you may as well just buy the better CPU.