Basically, no.
If UAE would run on the CD32, then it'd be possible. :-)
There are many reasons why it won't work, but the most important one is that almost every trackloading game hits the floppy hardware - you need to write the images to disk and boot from disk.
If you attempt a ram drive approach, you'll find out that
1) you'll soon run out of ram, the CD32 only has 2MB chip
2) no custom disk format game will boot from a recoverable ram drive
