Of course you can. But why would you? You're replacing something that is simple, easy to understand and works perfectly well with a nebulous something that invites user error and security nightmares.
For example, my (modest) home LAN is five routers, a NAS/media server, a media player, two "smart TVs" and dozens of notebooks and phones connected via Wi-Fi.
What do you propose? Manage a firewall on each of those devices?
I suppose you mean setting up a firewall on the WAN link to block all incoming traffic? How is that different from a NAT? Merely a lack of 'masquerade' setting on the firewall rule? What's the benefit to me and why should I care?
Or do you propose some sort of hybrid scheme to intelligently block traffic while making all my countless devices pingable from the Internet? Not in this timeline, sorry.