Tricky one, the answer is yes but it will not be easy.
What you need to do is work out for each frame of animation what the x.y.z offset for the decal needs to be from the models origin AND (the tricky part) the rotation angles wrt to the model.
Then you put all of that info into a table keyed by the frame number and have a script attached to the decal which moves and rotates the decal as the animation frame changes.
(I am almost done with my first 'utilities' library, when that is ready I'll ponder this some more as I think I m,ay be able to do this with a generic script, i.e. one that will work for any decal attached to any model as long as the offsets table has been generated in advance)
Been there, done that, got all the T-Shirts!