It's highly doubtful, unless you have a very large farm that you'll be able to raise enough woodlice to keep a couple toads happy. The largest wood lice is generally smaller then a mature cricket and a healthy adult American Toad can easily go through 25 crickets a week in average house hold temps.

It'll be a good food for raising the toads though, once the toadlets are large enough to feed on them that is.

Depending how many toads you keep though, if it is 8-10 you might want to consider just buying a box of crickets from a local reptile show, or online. They generally last two weeks, come with 1,000 crickets, cost like $16 bucks. It feeds 13 American and American sized toads and makes up a majority of two cane toad's diet. There are also boxes of 500 for $12 bucks and that might work just as well if the toads are the only thing your feeding insects. $24 dollars a month to feed 10 animals is nothing to sniff at, and it lowers the risk of catching parasites and other nasties wild feeders can bring.

Breeding 500-1,000 of anything every two weeks is gonna take a big operation. Good luck!