yes you can. as it is close to the soil I'd pack it in damp moss wrapped in plastic to allow it to grow roots. when there are roots then slice it of flush with the stem and pot up.

I believe that what Seaburngirl has mentioned is called " air layering". This technique as described can be used to propagate many kinds of plants.

that's correct Loose strife2. seemed easier to describe it than just give it a name. I've done it on rubber plants in the past.

Well thanks Seaburngirl, I will give it a try.