NO!
The battery isnt going to effect the power output much, because your driver is what determines the current, not the battery. Depending on your driver, 1 battery may not even power it. If you are using a linear drive, it would still probably get enough forward voltage to power the diode, but it would die faster, and stop lasing before the battery died completely.
As far as I know, there is no way to power a M-140 with such little power to make it eye safe (i.e. under 5mw). I dont think it would even lase with such little current necessary.
If you want to use it without goggles, go outside. Make sure you arent looking at the dot on anything unless its 50+ feet away and make sure that there is ABSOLUTELY nothing that could reflect the laser back at you...