You might be able to extrapolate it to that but you have to remember in a physical world dreams are just firings of neurons in your head. And the theory would apply to real life as in you're driving and the road dead-ends, you can go left or right. You go right; somewhere in one of these alternate universes, you go left.

Or you open the fridge to get a drink and there's water and milk and juice. You pick water but, again in some other universes you choose milk and juice. etc. etc.

I suppose you could say that different neuronal firing paths during dreaming (and waking life) could take millions of different paths and thus create millions of alternate universes depending on each path. But a dream "universe" is just a hallucination created by the firing of electricity between neurons in your Physical mind.

When it comes to physics stuff you have to remember to separate the physical (your body, brain) from the metaphysical (your mind). I was just trying to clarify the concept of a 'multiverse,' as I'm a physics major and always enjoy jumping into physics discussions