Exclusive mode fullscreen applications will crush you anyway since the compositor turns off, but otherwise it seemed to work OK.
You can win. One implementation is to have a separate thread whose sole purpose is to send set topmost messages in a tight loop (I've done this).
You win, or hang the UI up in a topmost live-lock.
For example, another hack involves removing the real screen from the OS and creating a virtual screen of the same dimensions and bit depth, intercepting calls to the virtual screen, and essentially writing one's own compositor in the video memory of the real screen. If my program does that, your messages to move your window to the top will never work. Your window may end up on top on the virtual screen, but that's not what the user looks at. If you counteract by using the same trick, how do you know that want you think is the real screen isn't already a virtual one created by a program that ran earlier, of that a program running later doesn't enumerate the hardware and figures out where the real memory lies?
I also could try and patch your program when I detect it, patch it in memory to send fewer or no such messages, intercept its messages, or even crash it when I see it, etc.
It remains competition for a scarce resource; because of that, I don't see how two identical copies of such a program could both win, let alone if I run ten of them.
Are there? I would think that is a weapons race you cannot win. If you can force your window to the top of all other windows, including those of other applications, so can others.
The only way out of that is if the OS has a notion of "this is the one and only topmost full screen window".