Translating a sentence
Uh...This sentence is not very polite.

Yes, you can use  the "yǔqí-bùrú"（与其-不如） structure when you use Chinese to state "A than B" at some time. But I think another similar structure is more widely used and maybe more correct for this sentence:"bǐqǐ-gèng"（比起-更）or "yǔqí-gèng"(与其-更).

English: I'd rather be a dick than a swallower

Chinese: "bǐqǐ" to be a swallower, I "gèng" would like to be a dick

It's ok to use verb + "者" for swallower, but since "dick" shows up after "swallower" in Chinese, you'd better describe "swallower" more clearly like "dick-swallow"+"者".

And since maybe you don't understand the culture difference between English and Chinese. I would like to give you another statements to help you translate this sentence better.

Compared with being a dick-swallower, I would rather to the one whose dick is swallowed by others. 

or

Compared with being a man who swallow other's dick, I would rather to be a man who let others swallow his dick.