Yes ... You can do this in Apex Code.  Here is somthing that is similar.

//  Copyright (c) 2009, Salesforce.com Inc.
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//
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//
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//  EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.
// 
// This trigger requires two custom fields and a validation rule. 
//
trigger ProductScheduleTriggerBulk on OpportunityLineItem (after insert) {
      //
      // Get prepped by retrieving the base information needed
      //
      Date currentDate;
      Decimal numberPayments;
      Decimal paymentAmount;
      Decimal totalPaid;
      List<OpportunityLineItemSchedule> newScheduleObjects = new List<OpportunityLineItemSchedule>();
           
    // For every OpportunityLineItem record, add its associated pricebook entry
    // to a set so there are no duplicates.
    Set<Id> pbeIds = new Set<Id>();
    for (OpportunityLineItem oli : Trigger.new) 
        pbeIds.add(oli.pricebookentryid);

    // Query the PricebookEntries for their associated info and place the results
    // in a map.
    Map<Id, PricebookEntry> entries = new Map<Id, PricebookEntry>(
        [select product2.Auto_Schedule_Revenue__c, product2.Num_Payments__c from pricebookentry 
         where id in :pbeIds]);
         
     // For every OpportunityLineItem record, add its associated oppty
    // to a set so there are no duplicates.
    Set<Id> opptyIds = new Set<Id>();
    for (OpportunityLineItem oli : Trigger.new) 
        opptyIds.add(oli.OpportunityId);

    // Query the Opportunities for their associated info and place the results
    // in a map.
    Map<Id, Opportunity> Opptys = new Map<Id, Opportunity>(
        [select Id, CloseDate from Opportunity 
         where id in :opptyIds]);

  // Iterate through the changes
  for (OpportunityLineItem item : trigger.new) {
         
          if(entries.get(item.pricebookEntryID).product2.Auto_Schedule_Revenue__c == true) {
                  //OK, we have an item that needs to be Auto Scheduled
                  //Calculate the payment amount
                  paymentAmount = item.TotalPrice;
                  numberPayments = (entries.get(item.pricebookEntryId).product2.Num_Payments__c);
                  paymentAmount = paymentAmount.divide(numberPayments,2);
                  //System.debug('* * * * Base Monthly Amount = ' + paymentAmount);
                  // Determine which date to use as the start date.         
                  if (item.ServiceDate == NULL) {
                        currentDate = Opptys.get(item.OpportunityId).CloseDate;
                    }
                    else
                    {
                      currentDate = item.ServiceDate;
                    }
                  totalPaid = 0;
                  // Loop though the payments 
                  for (Integer i = 1;i < numberPayments;i++) {
                        OpportunityLineItemSchedule s = new OpportunityLineItemSchedule();
                        s.Revenue = paymentAmount;
                        s.ScheduleDate = currentDate;
                        s.OpportunityLineItemId = item.id;
                        s.Type = 'Revenue'; 
                        newScheduleObjects.add(s); 
                        totalPaid = totalPaid + paymentAmount;
                        System.debug('********Date ' + currentDate + ' Amount ' + paymentAmount);
                        currentDate = currentDate.addMonths(1); 
                                          }
                  //Now Calulate the last payment!
                  paymentAmount = item.TotalPrice - totalPaid;
                  OpportunityLineItemSchedule s = new OpportunityLineItemSchedule();
                  s.Revenue = paymentAmount;
                  s.ScheduleDate = currentDate;
                  s.OpportunityLineItemId = item.id;
                  s.Type = 'Revenue'; 
                  newScheduleObjects.add(s);               
                  System.debug('********** LAST PAYMENT **********');
                  System.debug('********Date ' + currentDate + ' Amount ' + paymentAmount);
            
        } // End If Auto_Schedule_Revenue
      } // End For OpportunityLineItem

    if (newScheduleObjects.size() > 0) {
      try {
        insert(newScheduleObjects);
         } catch (System.DmlException e) {
          for (Integer ei = 0; ei < e.getNumDml(); ei++) {
              System.debug(e.getDmlMessage(ei));
          } 
          //
          // There should be something here to alert the user what failed!
          //
        } // End Catch
    } // End If greater than 0    
} // End Trigger ProductScheduleTriggerBulk