Sure. Question is, for how long.
The main issue is knock (detonation) control.
Are you able to run race gas ? what is the compression ? Are you willing to put in an ignition box that will retard the timing when on the squeeze? Are you running stock rods and crank, or something much stronger ?
If you were to design an engine around this in the first place, you would want moderate compression (10:1), a forged crank, forged I beam rods and forged pistons. You would want to be able to have control of the maximum ignition advance when the bottle is in use. You would also probably want to select a cam with nitrous in mind (Crane offers these among others).
At the very least, you want a good rev limiter
