Yes it is possible but you need some tooling to divide up the spacing of the teeth. It is my ambition to try and make gears / sprockets one day (not soon) and I picked up this at a swap meet for that purpose. It is called a 'dividing head' and offers precision angle setting for things like sprockets & gears.
![Image](https://c5.staticflickr.com/2/1703/25992129444_93ac91c86c_c.jpg)
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