Certainly it doesn’t mean we can do whatever we like. We are never meant to live our lives in lawlessness. That is why the answer is a 'NO'. We are still held accountable under moral law as revealed in the Ten Commandments.
Warnings against lawlessness addressed to believers saved by grace
“Do you not know that the unrighteous will not inherit the kingdom of God? Do not be deceived: neither the sexually immoral, nor idolaters, nor adulterers, nor men who practice homosexuality, nor thieves, nor the greedy, nor drunkards, nor revilers, nor swindlers will inherit the kingdom of God” (1 Corinthians 6:9-10).