It is possible, and attached is a sample configuration (cut down version for confidentiality) for a star topology network.
Each PVC is mapped to a different subinterface and static routes are used here, but you can substitute with whichever routing protocol.
The CoS used in this example is VBR-nrt.
!
interface FastEthernet0/0
ip address 10.120.0.10 255.255.255.0
duplex full
speed 100
!
interface FastEthernet0/1
ip address 172.30.10.233 255.255.255.252
duplex full
speed 100
!
interface ATM1/0
mtu 1600
no ip address
no ip mroute-cache
atm scrambling cell-payload
no atm ilmi-keepalive
!
interface ATM1/0.32 point-to-point
ip address 172.30.10.65 255.255.255.252
pvc 0/32
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.34 point-to-point
ip address 172.30.10.73 255.255.255.252
pvc 0/34
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.36 point-to-point
ip address 172.30.10.81 255.255.255.252
pvc 0/36
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.38 point-to-point
ip address 172.30.10.89 255.255.255.252
pvc 0/38
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.40 point-to-point
ip address 172.30.10.97 255.255.255.252
pvc 0/40
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.42 point-to-point
ip address 172.30.10.105 255.255.255.252
pvc 0/42
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.44 point-to-point
ip address 172.30.10.113 255.255.255.252
pvc 0/44
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.46 point-to-point
ip address 172.30.10.121 255.255.255.252
pvc 0/46
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.48 point-to-point
ip address 172.30.10.129 255.255.255.252
pvc 0/48
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.50 point-to-point
ip address 172.30.10.137 255.255.255.252
pvc 0/50
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.52 point-to-point
ip address 172.30.10.145 255.255.255.252
pvc 0/52
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.54 point-to-point
ip address 172.30.10.153 255.255.255.252
pvc 0/54
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.56 point-to-point
ip address 172.30.10.161 255.255.255.252
pvc 0/56
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.58 point-to-point
ip address 172.30.10.169 255.255.255.252
pvc 0/58
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.60 point-to-point
ip address 172.30.10.177 255.255.255.252
pvc 0/60
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.62 point-to-point
ip address 172.30.10.185 255.255.255.252
pvc 0/62
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.64 point-to-point
ip address 172.30.10.193 255.255.255.252
pvc 0/64
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.66 point-to-point
ip address 172.30.10.201 255.255.255.252
pvc 0/66
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.68 point-to-point
ip address 172.30.10.209 255.255.255.252
pvc 0/68
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.70 point-to-point
ip address 172.30.10.217 255.255.255.252
pvc 0/70
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
interface ATM1/0.72 point-to-point
ip address 172.30.10.225 255.255.255.252
pvc 0/72
vbr-nrt 614 614 1
oam-pvc manage
oam retry 3 5 1
encapsulation aal5snap
!
!
!
ip route 0.0.0.0 0.0.0.0 172.30.10.234 100
ip route 10.129.0.0 255.255.255.252 172.30.10.138
ip route 10.129.0.8 255.255.255.252 172.30.10.162
ip route 10.129.0.12 255.255.255.252 172.30.10.186
ip route 10.129.0.16 255.255.255.252 172.30.10.130
ip route 10.129.0.20 255.255.255.252 172.30.10.146
ip route 10.129.0.24 255.255.255.252 172.30.10.154
ip route 10.129.0.28 255.255.255.252 172.30.10.178
ip route 10.129.0.32 255.255.255.252 172.30.10.170
ip route 10.129.0.36 255.255.255.252 172.30.10.122
ip route 10.129.0.40 255.255.255.252 172.30.10.194
ip route 10.129.0.44 255.255.255.252 172.30.10.202
ip route 10.129.0.48 255.255.255.252 172.30.10.210
ip route 10.129.0.52 255.255.255.252 172.30.10.218
ip route 10.129.0.56 255.255.255.252 172.30.10.66
ip route 10.129.0.60 255.255.255.252 172.30.10.74
ip route 10.129.0.64 255.255.255.252 172.30.10.82
ip route 10.129.0.68 255.255.255.252 172.30.10.90
ip route 10.129.0.72 255.255.255.252 172.30.10.98
ip route 10.129.0.76 255.255.255.252 172.30.10.114
ip route 10.129.0.80 255.255.255.252 172.30.10.106
ip route 10.129.0.84 255.255.255.252 172.30.10.224
ip route 10.130.3.0 255.255.255.0 10.128.0.6
ip route 10.130.4.0 255.255.255.0 10.128.0.6
!
