I did this for part of the campaign before my group made the switch to 3.5 so yes it can be done.
It is of course a fair amount of work for the DM. The biggest changes I had to make were bumping up the number of monsters encountered and reworking the treasure to fit second edition standards. Expect to have to stat up a few of the more unique monsters, but other than that it's not a huge undertaking to convert.
I ran all of the SCAP in 2nd ed and am running AoW in second as well. I've got a pretty simple system for the conversion, but I should also warn you that the 2nd ed we play is NOT RAW, so this works for my game but I don't know if it will work for yours. We were already using multi-class and monsters with classes the way 3rd ed does before 3rd came out, so I don't have to change anything around that. We also don't use XP, so no help there. The big issue with me was really monnster and NPC conversion.
So I sit down and review the adventure with a roll of white out tape in hand and make the following changes:
AC= subtract 20 and add a negative (-) to the value
Thac0= add up the levels for baddie's HD, then subtract from 20. (Yes, I know that this means an NPC mage would have the same Thac0 as an NPC fighter. In the interest of quick game play and prep.... I don't care and my players don't notice.)
Saving Throws= I use the same value as I get for Thac0 regardless of what the Save vs. ? is. Once size fits all and a 1 always fumbles.
If a creature has Spell Resistance, I double the value and it becomes Magic Resistance.
I do a quick scan of the spells, and replace any that don't have 2nd ed counterparts with something similar.
I have my own random treasure list and I roll off that when they find magical items that don't have counterparts. (I do this in play, not ahead of time).
That's what comes to mind off the top of my head. If you have other questions about particulars, I'd be happy to answer them.