This was sort of tried. There was a (second and this time unsuccessful) coup attempt in '61 or '62 by the paratroopers and some of the top leadership of the French Army in Algeria. The French Army in Algeria had already performed a successful "soft" coup, that put Du Gaulle into power, and once it was clear that Du Gaulle was going to make peace and abandon Algeria, the French Army hoped that it would be able to overthrow Du Gaulle and fight the was in Algeria to a successful conclusion.
Unfortunately, they didn't get the kind of support they needed from the rest of the Army, and didn't kill Du Gaulle outright, so the coup attempt failed.
There was a plan that France threatened the FLN with at one point to relocate all the French to one part of the country, making that area totally French and keep that as French territory, but it wasn't really serious and the FLN were willing to agree to any deal that got the French Army out of Algeria. Once they left the FLN carried out a really brutal (though no more brutal than French counter-insurgency campaigns) campaign to drive the remaining French colonists out of the country.
The French in Algeria didn't have the numbers to pull a Rhodesia, and it would go against the whole idea of what they were fighting for. They were fighting for the idea that Algeria WAS an intregal part of France, and should remain that way, no matter how many dead Arabs that mission required.