Well, generally no - Vino cannot use the user's account password.
As can be read in this article discussing the issues with Vino, vino does not use the standard Linux authentication mechanism called PAM (Pluggable Authentication Module).
As to your suggested mechanism - there's no way to "read the password" from the user accounting system (password database) as the value stored for the password in the password database is not the password itself but a checksum (also called a hash function result) of the actual password, so the user's password is actually not known to the system - so it cannot be stolen.
That being said, because PAM is so awesome and, well, pluggable, you can have a plugin that runs some arbitrary script - for example: to change Vino's password - whenever a user changes their password (or log in, or whatever). I've actually found such a plugin here: https://github.com/jeroennijhof/pam_script. I have not tested it so I cannot explain how to make it work, nor even I guarantee that you can use this to do what you want - but I'm sure you'd learn quite a bit while trying ;-)