Does shifting in an automatic damage the car?

My car (Honda pilot 2011) has a 1/2/3 setting on the car and if I use that while driving will I damage anything? I typically use it when I'm driving for fun and shift it at red line and then shift it back into drive at the end of 3rd gear. My old car was a stick and I miss it but will it hurt the car besides the normal wear and tear?

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Its been doing that noise for a year now it gets very annoying i don't know if it has to do with the power steering or i need to replace something because i tried to spray the belt it kinda helped but not so much noise came back so any recommendations? Read more: My 93 honda accord ex makes a screeching noise when i turn the car on and when i do right or left turns how do i fix that?
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