Hi! I was wondering if it was possible to set a sticky bit on the / and the /home directories in case of accidentally mistyping an rm -rf command? Can this work and make the directory "immune" to being deleted even by the almighty root?

Likely.
Sticky bit on directories doesn't prevent deleting them. Root is anyway bypassing privilege settings.
It won't. To prevent data loss, nothing like backups.

Thanks for the reply I thought I read somewhere that a sticky bit would not be able to be deleted even by root, guess not. Thanks for filling the void.

You can set immutable flag, then even root has to remove the flag before deleting.

Ok so the sticky bit will serve as a buffer somewhat until root removes the sticky bit and then will be able to delete the directory?

Such as rm -rf / (root has sticky bit enabled)
system reports error cannot delete /


Now root does a chmod on / and removes sticky bit

rm -rf / = sucess?

Nope, the sticky bit and the immutable flags are different beasts.
The sticky bit is something standard amongst all Unix filesystem permissions, while the immutable flag is something specific to several filesystems (eg. ext2 and ext3 extended attributes).
It is however a good idea to have them set, thanks Emerson to remind it.
With the immutable bit set on / (chattr +i /), that should be OK.

By the way, it seems the Gnu version of rm is breaking the POSIX standards when allowing "rm -rf /" command to execute. Solaris rm is forbidding this same command to run:

Thanks for the help guys I gotta set the immune bit on because I blew a away a system with a syntax error yesterday.