Hi,
one of the features AdminStudio is supposed to offer is the ability to repackage several apps into one single MSI file. So, the answer to your question should be "yes, it is possible".
Then, how to do that...? Maybe you could create one feature for each app and a dialog asking the user which apps he wants to install. Then, install the features he has selected. Or this can be done by using the dialog "SetupType", which is even easier.
Voilà, voilà...
Hope this helps.