Yes, it is possible, but you will have to add a custom template for that to be incorporated in the product tabs. In that template you should pull all the variations information corresponding to the main product.
If you don't do it as parent->variations products, you can still link them in the backend and show those in the template. In short, it's doable but you or someone else will have to code that part. It might also be possible to do it with wp-types views, but I have never used it so I can't comment.
Hope that helps to get you started.