Well... it does work, because that's how you install updates one at a time. I suspect a better description of your problem than "it didn't work" and "the damn hot fixes download makes huge problems" would help people to help you.
Here's a summary of what to do to install the patches one at a time:
Step 1 - Boot the game up as normal. You will be prompted to install the latest update. This will always tell you the most recent update version number only, but it will need to install all of the updates to that point.
Step 2 - Watch the update progress very carefully. After the first update has downloaded and installed to your system, press Circle to cancel all of the rest.
Step 3 - DISABLE YOUR CONSOLE'S INTERNET CONNECTION (just pull the cable out of the back - it's easier)
Step 4 - Boot the game up.
Step 5 - The game will now install the patch.
Step 6 - When this has finished, the game will reboot. Exit the game.
Step 7 - RE-ENABLE YOUR CONSOLE'S INTERNET CONNECTION
Then return to step 1 for every subsequent update. If you're getting any Hotfix notifications, you haven't disabled the internet connection, so "the damn hot fixes download" cannot possibly be a problem if you're doing it right.
What is your internet connection speed like and is there any chance you could plug the console into a faster one to save you some time?