Yes you can do this but it's not straight forward. There isn't a one-to-one relationship between cad drawings and GIS. The cad drawings have to be broken into their components. Polylines, polygons, points, etc. You need to decide how you will want to use the imported data.
I have written a script that walks a folder of cad drawings and imports the polylines, points and polygons. Then does a spatial or field common field join on the point and polygon feature classes to build another polygon feature class containing all the information.
Does this sound like what you want to do?