As far as I know you can't disable links in that way. Depending on what you want to do I believe your options are either to add a class, programmatically or by using the Menu attributes module, and then use jQuery to disable the link, or not linking the menu item at all.
First option
Add a class or an id to the link, and do something like this to disable the link:
$('#linkid').click(function(e) {
e.preventDefault();
});
Second option
Use the Special menu items module with the <nolink>
option, which results in a menu item that is not linked, i.e. no <a>
tag. You could of course do this programmatically as well, but the module is rather simple and straight forward.
Hope that pointsThis is more general solutions for menu items, which I realize it's not exactly what you in the right directionare asking (a solution to your code), but it does provides solutions for your question "Can I disable module menu items?".