First I'm not trying to discurage you, as I am very pro breeding as its better for the wild reefs if we can captive breed more speacies I personaly am building a tank purly to attempt to breed tangs (which is currently almost impossible), but there are things you need to know first.
Yes it is possible, would I recomend it to someone who has never bred fish let alone inverts? No.
Mantis shrimp are probably one of the hardest inverts to breed and raise. The parents are monogomis so they may not pare up and they may kill eachother in a fight. If you do manage to pair some, and breed them, their offspring have a unbelievably long larval stage, and they must be separated or they will eat eachother. Also setting up a system for raising larval inverts is rather tricky all in itself.
Suffice to say, yes it can be done, is it worth it... maybe once you have the setup it could be practial do to their high value and many offspring... but at the same time unbelieveably labour intencive.