SSD1306 current reference
Yes, that should work provided the Vcc > 6V or so so the current sink does not saturate.  

You might want to put a (series) base resistor on the transistor in case something strange is going on inside the chip, something like 10K will do. For example, if your 3.3V supply ended up (under some transient condition) being higher than the Vcc, then current could flow into the SSD1306, which might be destructive.