Are you refering to using crushed asphalt as your driveway? Or are you asking whether or not you can install an asphalt driveway?
The answer to the first question would be YES. The answer the the second, NO.
Crushed or Reclaimed asphalt is what my alley is made of and I am actually going to be adding some to my driveway. I already have a packed surface so I am only adding 2 inches in depth. Over dirt, I would make sure it is packed down really well. THe best way of doing this is to get a roller or tamper. You can do this by hand, but it will take much longer.
Then get your crushed asphalt dumped and spread to 4 inches. Then if you have a roller or tamper, go ahead and pack it down.
Honestly I can't be sure that 4 inches will be enough or too much. The other option is to get enough for 2 inches, pack and then add more if needed.