Ya. Try it out. Just make a grubby little test map and mess around with a looped Key Framed Object that the AI follows around and then breaks away to pursue the Player. You may need to experiment with 'mt' and 'trg' commands. There's a couple of others that come in handy as well that will help get it working but for the life of me, I cannot remember them. I think there's a Leash command as well that will limit how far the AI will wander away if it's applied to the Player. It's been so long since I looked at this side of the tool set.
Anyway, lemme know how you go with this. You should be able to get it working with a little effort.
-Windebieste.