if we use the number 1, then we shouldn't wear seatbelts, get fire insurance, or eat healthy to avoid getting cancer, since all of those can be classified as Pascal's Muggings

Isn't this dealt with in the above by aggregating all the deals of a certain probability together?

(amount of deals that you can make in your life that have this probability) * (PEST) < 1

Maybe the expected number of major car crashes or dangerous fires, etc that you experience are each less than 1, but the expectation for the number of all such things that happen to you might be greater than 1.

There might be issues with how to group such events though, since only considering things with the exact same probability together doesn't make sense.