It should be possible, not that I've done it yet. I've only seen the slimline pencils as click pencils, hopefully that's what you mean.
You would need to turn the centerband coupling down to be able to slide through the drilled hole in the blank or you could just get long 7mm tubes and custom cut the length of both tubes plus the centerband. I would think one of the hardest parts may be drilling the hole over 4 inches deep through the single blank and keeping it straight.
My $0.02, hope it helps.