No. The Red Book standard that defines audio CDs imposes a limit of 99 tracks, and this can not be exceeded. In addition, each track must be at least 4 seconds long, although this is not quite as strict a limit as the 99 tracks limit.
You can add up to 99 indexes to your tracks to further subdivide them. Feurio is one software package that allows you to add indexes. Beware, though, that players that display index markers, let alone allow one to select individual indexes, are few and far between.