Yes. There is an Audio property for playback time. You can reference it with Audio.PlaybackTime("Whatever") and then you can alter it with Audio > Seek To.
It's a little tough to make it perfect, though. There are a few ways I've gotten around it, though.
Firstly, you'll need to say if Audio.PlaybackTime("Whatever") is > or = to ~~~, Seek To ---. This is the quick and dirty and accounts for if it happens to be off by a millisecond or several when the processing tick goes by. You can also reference on track ended, but this is unreliable in my experience (it works, just introduces gaps).
You can also play the same track over itself once it ends by alternating tags. Ie if Audio.Audio.PlaybackTime("Whatever1") >= to ~~~, play with tag "Whatever2". And then alternate events. This way, you can retain the audio spill-over at the end of the measure without wrapping it to the start of the track (or the mid-point wherever you are going with it). It isn't an ideal solution, but it works.
Or you could do the whole things split up by measures on a timer and make it fully interactive...