To answer the question: yes, I’m guessing he can survive. If they’re going to kill off the Flash, they’d use an arch-enemy, like Corporal Inertia or Sergeant Sloth or Leftenant Molasses, or some other foe whose powers stood in stark contrapositive juxtaposition to the Flash. Getting killed by “Captain Boomerang” is like getting killed by Captain Frisbee. 

Ol’ Boomie didn’t really overthink the wardrobe – blue tights, a dyed cap he got at Army surplus, the sort of scarf favored by aviators in the days before they tired of having it catch in the prop and yank them from the cockpit, and a flirty little skirt that sets off his beer-barrel thighs quite nicely. Let’s take a look at a few select panels on the next page. Or rather: You MUST look at "A few select panels on the next page."