I came across a poster saying
May our lives be sacrificed for prophet Muhammad ﷺ
Is "May our lives be sacrificed" a phrase that occurred around the time of Muhammad, or is it a modern phrase?
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بسم الله الرحمن الرحیم
As much as I made research, I couldn’t find the precise phrase as you mentioned that you said:
May our lives be sacrificed for Prophet Muhammad ﷺ
And apparently, this phrase “May our lives be sacrificed" can be used as a modern phrase. Although it could be feasible to be used at that time as well. On the whole, it is solely demonstrates the interest and attachment for the Prophet (SAWW).
Of course @Servant-of-Wiser cited a link which could be related to your inquiry (as in has shown in below).
On the whole, it could be considered as a sincerity phrase which can be used in both period of time (at the time of Prophet Muhammad (S) and at the moment to demonstrate the sincerity of Muslim about their Prophet (Peace be upon him and his family)).
May Allah guide us.