Yes, it's quite possible as you can see from my write-up on Motoringfile.com. I'm not sure how practical it is though. I've not used my setup more than twice since I installed it.
The backup camera sure is awesome though... I use it every day and I can't imagine being without it now. I was backing into my garage the other day and I totally forgot that I had left the floor jack in the middle of the garage. I didn't see it when checking my side & rear view mirrors (as the handle is white and very hard to see against the white background of my garage), but at the last minute I looked over at the backup camera screen and saw the jack. I slammed on my brakes and avoided running it over. I probably should have been paying more attention when backing up, but I'm sure glad that I had the rear-view camera. It just paid for itself right then and there.