YES,
it can be done. a few notes though.
your F0/0 interface will not have an ip address on it. (only the f0/0.1, f0/0.2..etc)
if you use subinterfaces, you only put ip addresses on those.
(likewise, if you do not use subinterfaces, you would put an ip address on F0/0)
you can then enable NAT to provide internet acceess for all of your subnets. you will create a nat pool that all subnets are assigned too and then use an 'ip nat inside source list....overload' command. see the link below for an more NAT info:
http://www.cisco.com/en/US/products/sw/iosswrel/ps1831/products_configuration_guide_chapter09186a00800ca6b4.html#wp1002272
also, you can configure a subinterface for each VLAN you need to configure.
(since your interface will be supporting multiple vlans, it will be using 802.1q and the switch port it connects to will have to be configured as a 802.1q trunk as well)