Not quite... once you observe (read: measure) an entangled particle, it is no longer entangled.

Imagine 2 people face to face on a perfectly slippery frozen lake. If they push apart from each other, they would slide away. If you know the mass of each person, and you catch person A (this is like measuring the speed), then you'll know how fast person B is going. But measuring A changed the system and you'll get no additional info about B.

I'm no pro though, this is just how I understand it.