Indeed you can. In fact, the Starblazers mod uses such a system already.
It might be good to make a grid of systems, so you can travel to the empty sectors between planets for the transfer of illicit goods and other such sneaky things.
and brave the reavers..... equipped with engine disrupters, crew killers and kamakazi fighters that ram(you can order them to ram right, I've never tried fighters)
You could make the arrangements of the systems (planets, empty space, asteroids) circular like a spiderweb, that would allow for a reasonable approximation of our solar system. Each system would be connected to systems that were adjacent in the same "ring" and have connections to the upper and lower "rings".