Yes, we use this method on many places in OpenBSD.  Like in mkdep(1).
In other shell scripts, we use our mktemp(1) program.  I'm including a
man page so that you can see how to use it...
Anyways, these are important problems to solve.  But don't just think
of your shell scripts -- check the regular C programs too.  We fixed
roughly 400-500 /tmp races in the OpenBSD tree.
It's one kind of security issue when a symlink is used to whack root,
but it's also a security issue when one user can cause another user's
.login file to get squished.  So most of them have been fixed.  A few
small ones lurk.  (Some are very hard to fix).
----
NAME
     mktemp - make temporary file name (unique)
SYNOPSIS
     mktemp [-d] [-q] [-u] template
DESCRIPTION
     The mktemp utility takes the given file name template and overwrites a
     portion of it to create a file name.  This file name is unique and suit-
     able for use by the application.  The template may be any file name with
     some number of `Xs' appended to it, for example /tmp/temp.XXXX. The
     trailing `Xs' are replaced with the current process number and/or a
     unique letter combination.  The number of unique file names mktemp can
     return depends on the number of `Xs' provided; six `Xs' will result in
     mktemp testing roughly 26 ** 6 combinations.
     If mktemp can successfully generate a unique file name, the file is cre-
     ated with mode 0600 (unless the -u flag is given) and the filename is
     printed to standard output.
OPTIONS
     The available options are as follows:
     -d      Make a directory instead of a file.
     -q      Fail silently if an error occurs.  This is useful if a script
             does not want error output to go to standard error.
     -u      Operate in ``unsafe'' mode.  The temp file will be unlinked be-
             fore mktemp exits.  This is slightly better than mktemp(3) but
             still introduces a race condition.  Use of this option is not en-
             couraged.
RETURN VALUES
     The mktemp utility exits with a value of 0 on success, and 1 on failure.
EXAMPLES
     The following sh(1) fragment illustrates a simple use of mktemp where the
     script should quit if it cannot get a safe temporary file.
           TMPFILE=`mktemp /tmp/$0.XXXXXX` || exit 1
           echo "program output" >> $TMPFILE
     In this case, we want the script to catch the error itself.
           TMPFILE=`mktemp -q /tmp/$0.XXXXXX`
           if [ $? -ne 0 ]; then
                   echo "$0: Can't create temp file, exiting..."
                   exit 1
           fi
     Note that one can also check to see that $TMPFILE is zero length instead
     of checking $?.  This would allow the check to be done later one in the
     script (since $? would get clobbered by the next shell command).
SEE ALSO
     mkstemp(3),  mktemp(3)
HISTORY
     The mktemp utility appeared in OpenBSD.
OpenBSD 2.1                   November, 20, 1996                             1