Absolutely! Pneumatic plumbing is the easiest kind of plumbing. It's only air, after all. Real easy to clean up if you mess up! What you'll need is completely dependent on your layout. Scott's pic is a great example, your results may vary.
For instance I have a 2 way manifold mounted on the compressor, one hose runs to my spraybooth, the other is for use in the garage. I have two 50' hoses as Tom suggests and I have quick connects on all my pneumatic tools (brad nailer, nail gun, tire chuck and blower) and on each end of both hoses. This allows me to quickly change tools or to hook the hoses together for those rare 100' requirements. I then have a 6' "whip" hose for use with my tools. A whip hose has a swivel head and allows me to unkink the hose easily. I also have a regular 6' hose installed on my spray booth with quick connects to the first 50' hose (lost you yet?). Inside my spray booth I have a regulator and moisture trap to which I connect my airbrush. The compressor has a regulator as well, and yet another moisture trap.
Once you figure out where the compressor will live, and how long the hose(s) you need (it's always better to have more hose, then it is to have just enough!) This
kit from Harbor Freight will get you started, and has a tire chuck, blower, some quick connects (available seperately) and even comes with teflon tape. Just wrap a couple or three turns around the male threads before making any threaded connections. You will want to replace the tape each time you take threaded connections apart.
This is what I mean by
manifold. You can buy two head kinds as well, I just couldn't find one on their website.