Answer - No.
Rest is rest, ie- do nothing. You REST.
Its not about letting the muscles rest, its about giving your body a chance to recuperate. Your body isnt split into body parts, it is one connected unit.
If you want to do some cardio, put it after your weight training sessions and leave some days out to rest.
As an aside, i would take a look at the stickied topics on designing a training program. This is just a split, to get any sort of useful advice you need to post the actual program.
Remember - you grow/improve outside of the gym when your body actually has energy to repair itself, not while you're in the gym.