(Commenting in lieu of voting down as my profile cannot yet vote down.)
You really need to do some research here. Almost any service-oriented .NET technology can be self-hosted... WCF web services, OData, etc. Your bigger concern should be performance. The more layers you add to your app, and the more times you transform or "serve" your data, the more cycles will be spent processing your data. What you may find is that you users become less happy with the performance compared to a snappy compiled UI hitting a simple business or data layer.
In short, yes, this is possible. However, I would save this type of app for one-off / in-a-pinch apps with either a short life expectancy or very minimal client usage (settings panel, etc.).