If you can find a long enough bit for your collet, then I say yes. You probably would need to flip it to do the outer curve and details. A 4th axis would help to or some type of cranked horizontal jig to rotate it while the Z axis is moving. This is drawn in Rhino. Easel would be harder to do I would think. I think you could revolve the wood on its horizontal axis to do the outside shape, then refixture it to do the inside contours. Kind of like turning first, and milling second.
