Yes, definitely. We have performed DIA on most ion trapping instruments, including a benchtop LTQ. The key trade-offs to consider is that the precursor m/z range, isolation width, and cycle time are closely linked. Because the LTQ-Orbitrap will be relatively slow compared with modern Q-Orbitrap instruments you will have to reduce the m/z range or increase the isolation width to keep the cycle time reasonable.
If you are willing to make multiple injections per sample to span your mass range you will only be limited by throughput and sample consumption relative to the most modern instruments
https://www.ncbi.nlm.nih.gov/pubmed/25261218
-Mike