Reldude,

Yes, it is completely possible. I do this often on bumps; switching MCO/TPA/SRQ, SNA/LAX/SAN, even once getting bumped in LAS and driving to SAN to get a flight home. Its doubtful they will begin bumping early; I have never known for sure if I will actually be bumped before the plane was fully boarded and seats counted. Try to be prepared ahead of time by checking alternate flight availability. Be first on line at gate, ask if volunteers may be needed. If they hold your ticket, ask to be protected on your choice of flight AT THAT TIME; do not wait until after your original flight has left (if you are elite and any A/F is avail, they should be able to secure this as well). It always helps if you travel without checked bags, otherwise you may have to head to SNA to pick them up anyway.

Robin