Spray Foam For Old House Stone & Mortar Basemnt Leaking Water?

I have an old 1900′s house which is built on stone & mortar foundation. My question is can I use the spray foam insualtion to seal the gaps in the stone foundation & at the same time water proof the basement from future leaks? I have read on some different foam sites 3 inches is need to mee tthe retarder barrier for water proofing. Any help is great thank you. Or is there a better way to fill in ALL the gaps in the stone wall & seal then.