It's possible but there are a lot of factors to take into account.
Different tracks have different requirements that bikes used on them must meet. If you intended to use the bike on an outdoor, shallow banked velodrome it would be quite easy to find a frame that was suitable. A bike that could be used on a modern 250m track would be harder to find and take more work to prepare. It would also be far more compromised in terms of handling and probably wouldn't be worth it.
The main differences are: bottom bracket height, higher on a track frame; crank length, shorter; geometry, generally racier; protruding parts (hangers, bosses, studs), none.