Anything is possible, its the probabilities that can let you down.
I do not know off hand how the multi admin module works but it probably works off of table level privileges. As all products of the same type share the same table space, thats not going to work how you would like it to. I would guess that you could clone the product types and give them their own tables to work in, but I believe some tables would have to be shared to make this work (I'm on the wrong machine to check this right now) so I'm not sure how great a wall you would be able to build in between your categories/admins.