I found a couple of nice examples of an infinitive being used as a noun in Linguée:
Dentro de nuestra forma de vivencia, el no mentir es algo sagrado, y eso no lo practicamos acá. embacubaqatar.com | In our way of life being truthful is sacred, and that is not being observed here. embacubaqatar.com
Los niños de 6 a 12 años de edad entienden lo que es mentir y el error moral de esta conducta. content.jeffersonhospital.org | Children from the ages of 6 to 12 understand what lying is and the moral wrongness of this behavior.
When we use an infinitive as a noun, we are sort of focusing on the process of the action. A nice phrase in English to use as a paradigm is
To err is human, to forgive, divine.
Here is an example using cancelar:
Cancelar de último momento sería desastroso.
Now, what you really wanted to know, I think, is your question:
There are times when I am speaking Spanish and am unable to remember the noun, but I remember the infinitive form of the verb the noun is derived from. When is it safe to use the infinitive form of the verb as a noun?
I will try to imagine a Spanish learner doing this (but if you could provide several examples, that would be helpful). Let's say you want to talk about una llamada [telefónica], but you don't remember whether you should say "una llamada" or "un llamado" or something else entirely, so you try to substitute "llamar" in your sentence. Let's see what happens:
Recibí su llamar ayer. | I received her/his/their [phone] call yesterday.
Hmmm. That is not working very well, is it? I think that I would prefer that you make up any old noun, even if you don't hit the nail on the head. For example:
Recibí su llamamiento ayer / Recibí su llamado ayer / Recibí su llamido ayer.
(I tried to imagine some possible mistakes a Spanish learner might make in trying to come up with a noun based on the verb "llamar.")
I think that even though these sound a little off, they work better than "Recibí su llamar ayer." Even though grammatically "Recibí su llamar ayer" is technically valid.
But please note that there might be other situations where it wouldn't sound weird, and your trick might work out pretty well for you.
Side note: "Si el evento se cancela" is similar to "If the event gets canceled / If the event becomes canceled (and if you want to look at it literally, word for word, you might think of it as "If the event cancels itself"). What I think you forgot is that in "If the event is canceled," the "is canceled" is the passive voice. It's a completely different pattern from "The jacket is blue."