Sure it's possible? Yeah, I saw a bike with a wheel like this at my buddy's shop tonight, and I have seen that same wheel ridden. I reccomend doing it with a jeweler's saw and making the cuts kind of scalloped shaped so that the pieces dovetail together nicely. If you do it with a larger saw you will end up taking out so much metal the wheel will be too small and you won't be able to mount a tire. Number the sections before you start cutting or you'll never get it all straightened out. Also, don't use a rim brake on that wheel if you do actually ride it.