I should think it's possible. I wore my DJ the standard way a couple of times before I realised.
Might get some pictures up later.
Shawl collar is a perfectly acceptable option as well, if slightly less formal than peak. I think the formality is irrelevant though, given that most people aren't wearing tuxedos, and those that do are wearing notch lapels.
A wing collar is not necessarily the preferred for black tie, and, depending on where you are located, not really acceptable (UK). A turndown collar is equally acceptable, and generally found in spread or semi-spread.
Edit: for more reading on the subject: http://www.blacktieguide.com/Classic/Classic_Shirts.htm