If you've got the laboratory glassware to set up to do that, it should work well enough, but odds are the used IPA has adsorbed a significant quantity of moisture from the atmosphere, so expect to only get 91% purity even if you use a fractionating column. If you need better than that, you'll either need to separate the water by salting out then discard the aqueous phase, or add a strong desiccant like anhydrous calcium oxide, prior to distillation.
Lastly, the lower explosive limit for isopropanol vapour is only 2.2%, so for %DEITY%'s sake make sure you've got intrinsically safe forced ventilation, no naked flames, and that any electric heating devices have intrinsically safe controllers.