Aeroblast has only 8 PP. Pretty much half of all Ubers have Pressure. You're gonna run out of PP pretty quickly.
Also this set gives so many free turns, it's not even funny. Tyranitar seriously dent you with CB Crunch and you can't even hit it back as he's immune to Aeroblast (trust me, Psychic type attacks are horrible, especially in Ubers tier). Metagross also resist x4 psychic attack and even T-Spikes don't help you here, Taunt + Calm Mind MewTwo just laughs on this set. Scizor also isn't your friend and he can just fire CB U-Turn for free. Darkrai also isn't good news - he may use Dark Void and Nasty Plot to overpower your Calm Minds anyway. I would go with Ice Beam, Thunder, whatever, but not Aeroblast. If Lugia has acces to Air Slash, just use Air Slash, it has superior coverage. Also Lugia is good wall, because she has good speed. Right now, Garchomp may SD up and OHKO you back before you can hit it back (yeah, it survives +1 Aeroblast without problems). Heck, CB Garchomp outspeeds you and 2OHKO you back as you're too slow to retaliate. Heck, even Rayquaza outspeeds you, which is even worse. To be honest for me Lugia doesn't work as a mixed wall - she has bad typing to take powerfull special hits, even after Calm Mind. And for Calm Minding she needs at least one more attack to use. And right now she's too slow to counter or even handle when Calm Minding some faster physical powerhorses.
Unfortunately I say no for this set. But I guess with Air Slash and Spikes support MAY work. But for me it's still too slow with those EVs.
EDIT: My mistake, I forgot about this. But still, as someone mentioned - 8 PP makes it a bit sad. Tyranitar still is a threat and easily beats you with Crunch, while you can't seriously hit it back. Metagross still doesn't mind it and Scizor also is bulky enough to take it more then once. Darkrai can still switch in and Dark Void + Nasty Plot his way through Lugia. And all those points I mentioned are still valid. Also Garchomp/Rayquaza/ParaDancing Groudon still easily takes it on. And if it has Air Slash - go with Air Slash, as it has more PP.