Rangers are six points adrift of safety in the Barclays Premier League and are hoping to avoid a third successive defeat when they host Liverpool on Sunday.
Redknapp insists the club must sign new players in next month's transfer window if they are to survive in the top flight with Demba Ba, Brede Hangeland and Robbie Keane reported to interest the QPR boss.
But the 65-year-old admits his only sales pitch during negotiations will be to convince prospective new arrivals they could be part of something special.
"I tell players `Look, there are mugs around like me. Come and have a challenge, please. Come and do something'. If we keep this team up now we'll have had a fantastic end of the season," he said.
"I walked on that pitch at Wigan as Portsmouth manager in 2006 when we had escaped relegation and it was the best day ever. It was fantastic and I want to do the same at QPR. That's my dream - all I think about at night is trying to keep this team up.
"I'd love it so much if we kept QPR up. It has consumed my whole life, it's all I want. It gets me up, it gets me down. I've been sitting at home over Christmas being no fun to anybody and I was thinking `Should I put myself in this position, should I put my family in this situation again?'
"But you do as you want to have a go and if I could be a part of the team that can pull it off that would be fantastic.
"That is the message I want to send to any player 'Come and we'll have a great time if we can turn it round - let's see if we can'."
- Sports & Recreation
- Barclays Premier League