Let $M$ be a module over a ring $R$ and $I$ an ideal. $I^\infty M= \bigcap_{k=1}^\infty I^kM$. Then $I \cdot I^\infty M=\bigcap_{k=2}^\infty I^k M.$ Clearly we have $\bigcap_{k=2}^\infty I^k M \supseteq \bigcap_{k=1}^\infty I^k M$. But $IM \supseteq I^2M$, so $\bigcap_{k=2}^\infty I^{k}M = \bigcap_{k=1}^\infty I^k M$, and therefore $I \cdot I^\infty M = I^\infty M$.
This proof avoids Artin-Reese, which seems to be frequently used to prove the Krull intersection theorem. I'm not sure why you would avoid using this proof, but the textbooks seem to.
Products don't necessarily commute with intersections.
So you can't claim $I \cdot I^\infty M=\bigcap_{k=2}^\infty I^k M$.
Note that in your proof attempt, you didn't specify any conditions on the ring $R$ or on the module $M$ (e.g., $R$ is noetherian, $M$ is finitely generated), and without at least some additional conditions, there are known counterexamples to the claim of the Krull Intersection Theorem.
For example, see the following thread . . .
$\qquad$https://mathoverflow.net/questions/71699
With regard to the issue of whether products commute with intersections . . .
In general, if
then we get $$ I \left( \bigcap_{M\in S}M \right) \subseteq \bigcap_{M\in S}IM $$ but the reverse inclusion need not hold.
In fact, products don't necessarily commute even with finite intersections.
As an example, let
Then
Thus, for this example, $I(A \cap B)$ is a proper subset of $IA \cap IB$.