Considering you're able to use the conc rifle to propel yourself upwards, using it for movement should be possible as well. There's no way for us to really see the game's physics code directly (it's not easy to read COGs like the levels and scripting), so it requires intimate knowledge of the game to answer
Honestly, you'll probably have to end up doing something that looks similar to classic quake-style rocket jumping for speed. You'd need to turn around instantly, shoot the ground behind you, and jump. An easy place to get a boost though might be off the wall of the platform you get the super shield. As you start to fall off, just shoot it and it might propel you. This is all conjecture, I don't have time to test it out
If you want to do some testing, the MOTS cheats for invincibility are: boinga 1 (boinga 0 disables)
The cheat for all weapons+max ammo is: diediedie
You can input them by hitting T, then TAB to bring up the command option at the top of the screen.