Yes technically it's possible. There is actually a key event system already implemented into the editor itself (as you are probably already aware) but there is also a Lua script key event listener/handler too that was implemented for Visionaire Studio 4.x. The Lua version would save a lot of time in comparison to setting up the in-editor version of your text handler.
It would be quite complicated to setup though as it would require you to create lots of tables, lots & lots of tables in which you would add the required text input options that are available for each object or action. Daunting no?
I'm not going to give you a step by step on how to implement this as it would take me a right age to explain. Plus a lot of it would be theoretical explanation. I have created a template a while back using the editor key actions - before the Lua script version was available - but that thing took me almost 3 days to setup. What you are talking about would probably take a lot longer as the things I made was just a small quiz with an if then else query system to check if correct answer was provided.Here
's the template I made. It's not plug & play though. It is purely for reference.