Yes it's possible.
You basically have 2 choices.
1) Write it yourself.
2) Find 3rd party controls.
If you choose to write it yourself, the best way to go about it will probably be creating some kind of custom control. You'll have to write all the docking and drawing logic your self. This would be quite complex, and probably fairly tricky.
If you choose to find 3rd party controls you can either find free/open source ones, or you can pay for them. There are open source controls around, which you could either just use, or use as base for your own. There's several on CP:
http://www.codeproject.com/KB/miscctrl/magicdocking.aspx[
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