Is this possible in Construct 2?

Is it possible to make a platformer similar to Metal Storm on the NES?

Example: Metal Storm Stage 2

Notice how the level wraps from top to bottom.

Is this possible to do this in Construct 2? If so, please explain or post an example.

Any kind of 2D game can be achieved in C2. So yes, such a game is possible to make using Construct2.

But stuff like the projectiles wrapping only top/bottom, you will have to make such a game behavior with events.

For examples on how to make most of the basic stuff in a platformer game, check the tutorials how to make a platform game and building a platform game, a beginner's guide and complete with checking the how do I FAQ at the sections "Sidescroller/Platformer genre" and "Platformer behavior".

Check this documentation and most of your questions should be answered.