I would definitely say it's possible! You probably won't be able to buy much brand name (from Japan, at least - I'm 5'1-2, 120-130lb and there's tons of stuff even I can't fit into! Asians must be smaller than I thought. xD), but you can do it. Just keep an eye out in local shops and online, even make your own if you can.
But, this goes with Lolita or any other fashion was well, just be aware of your body shape and what does and does not flatter you. From what I've seen, Hime Gyaru likes a lot of ruffles at times.. And that can be very unflattering for some people, especially in certain areas. **
I'd say give it a try, and if it doesn't work out, it's alright.