Temporary Worm Bin

I have a 32-gal Rubbermaid trashcan.  It is black, and it has a lid.  I'd been putting compost things in a 5-gal bucket, but it overflowed so I got the trashcan.  Everything from the little bucket has been dumped into the trashcan.  It's pretty smelly, but things do seem to be rotting.

In the near future (by summer's end), I want to craft the three-bin Wriggler Hilton.  For now, I'd thought perhaps to go pick up some worms from the bait store and put them in the big can so the rotting stuff can get a headstart on become usable.

If I do that and open the can once a day, will that be enough air exchange for the worms so they don't smother?

Don't try both in the same garbage can. I recommend doing more research on container composting (which creates heat and liquid, and needs air), and the raising of red wigglers for worm casings (which needs more temperate temps, moisture and air).  They are 2 different activities.  Once you have cool compost, the worms will love it.  But, if you try to do both in a garbage can, the compost will win.  

Containers for composting wastes have air holes all around, and the composting materials needs to be turned to introduce air and check for proper moisture.  Worm bins like wise have ventilation and a way to keep things moist but not soggy.

I have an open-bottom, passive, free-range worm bin.  Worm bins for dummies.    It is made of 2x4s for good temp insulation, set on the dirt (so the worms can escape to cooler, moister depths if it gets too hot or dry, yet the excess liquid soaks into the dirt).  Red wigglers won't go far from the food if things are good.  Bridal tulle on the top with a plywood cover off-set, allows ventilation but keeps out soldier flies (good guys but competitive for the food with red wigglers).

You can use a 5-gallon bucket.  Cut out the bottom, set it on the ground in a cool, shady area, cover with tulle and an off set lid.  Put some "food" in the lower bottom part and make sure the dirt around the area is watered if you don't get rain.  When the food gets mushy and moldy, introduce 25 or more worms.  (small fishing worms container from Walmart or all-purpose general stores en route to fishing spots)

I live in a temperate region with scalding hot summers and winters that generally stay above freezing except for a few days. I forgot what your weather is like and I can't check while I'm replying. If you get heavy freezes, you will need to find a way to bring them into the house or garage.