Easily, just update your DNS records so that you mailserver (MX) is pointing at your dedi. Then on the dedi set up a MTA (SMTP server); I recomend postfix for linux and hMailServer for windows (there are plenty of guides available). It's also worth getting a SPF record and updating the reverse IP details so that less of your emails get classed as spam. Then just send as many messages as you want either from an email client, localy on the server or some sort of script. Got any questions just ask