Yes, you can. It's called a mini-DVD, and will only play in about 1 out of a million standalone players. It's a full DVD format (VIDEO_TS folder, with .ifo and .vob) on a CDR. You are severly limited to bitrate though, and unless it's less than 40 minutes running time, it's totally unwatchable because of artifacts and other noise.
Most mini-dvd's are for PC use only, distributed as software tutorials and such, where some interactivity is needed (which you can't get with (S)VCD usually), and video quality is maintained. Nerovision Express 2 has the option to make a mini-dvd.