Yes it is totally possible!
You will need to unplug the airbag light on the gauge cluster because it will stay on. I will say that it is kind of hard to remove the airbag, because it is being held by 2 clips inside the steering wheel. I don't know if you already have the steering wheel apart.
I did this same procedure to my truck, because I hated the looks of the airbag ("Next Gen Airbag" '98 steering wheel), switched it to a 88-94 steering wheel, found out the multifunction switch was blocked, so then I switched it to the 95-00 non-airbag steering wheel. I then did the Grant steering wheel, but sent it back, and put the non-airbag 95-00 steering wheel. I just can't seem to like aftermarket stuff, I love my stock things, but to each their own.
I hope this helps, happy swapping!