I theory it is possible. However it would take a massive concerted effort on the part of many individuals to draw votes away from the two dominant parties toward one or two of the smaller ones.
Part of the problem is that many people actually prefer one of the smaller party. But they vote for the larger party because they feel that if they "vote their concsience" then they are really throwing their vote away. So even though their ideology matches a smaller party they wont vote for them simply because they are a smaller party.
The logic there is a bit fuzzy when you think about it. If just half of the republicans who would prefer the libritarian party voted for the libritarian party then the republican party would be much smaller. The libritarian party would grow and others would eventually notice. But they wont do this because they feel that the same thing isn't going to happen in the democratic party. For many of these people it is more important to vote against the ideas that they absolutely don't want than it is to vote for the ideas that they want.
I agree with you that some of the smaller parties on both sides of the political spectrum have better ideas than the goons at the top. However in practical terms this doesn't really matter.
So in theory yes but in reality probably not.