I don't think you should tell your parents. I do think you should tell your brother to rethink this.
It sounds (from your hints at a back story) that your parents enjoy bailing out and helping your brother and driving for hours is a proof of love for them.
Both your parents and your brother are embroiled in this dynamic, but I really think that it is up to them to sort out. You can't say "no" to your parents.
What you can do is you can refuse to host your brother unless he tells your parents his plan beforehand. This might seem a bit like blackmail, but if you don't think you will be able to get over your resentment at your brother I think you should consider that.
Granted, this means telling your brother that he is not welcome at Christmas dinner, but on the other hand it means telling your brother that someone who take advantage of your parents in such a fashion is not welcome at your Christmas dinner.
I kind of like this approach. I lean towards staying out of it, and letting your parents be mad at your brother (if they are)--that might snap them out of finding his antics charming. On the other hand, he's kind of forced
you to be in it by telling you about it. In some families, blame might shift away from the golden child who deserves it towards someone else (you) who knew about the plan but didn't say anything.
And then of course there's the health and safety aspects to consider. If you are really, really concerned about them doing all that driving, and your brother won't change his mind, maybe you need to pull a "safety trumps etiquette" card and tell them.
So, I would only flat-out tell them if I were really concerned about their safety/health, and Bro refused to budge. If it was more that I was afraid of misplaced blame, I would try to find some indirect way to change his mind, like by refusing to host him. And if it was more that I was just generally aggravated at his immaturity, I would just stay out of it, and let the chips fall where they may.