Absolutely. First of all, you wouldn't be exposed to capital gains tax unless there was a disposition or a deemed disposition, so you would be talking about the proceeds of a disposition rather than the business asset or the property itself.
You would also need a one-time pop in contribution room generated by the capital gains. Of course, you could establish limits to how much could be rolled in during a given year, to some reasonable amount. It may turn out that we find a reasonable amount is in the hundreds of thousands.
Remember, of course, that when the proceeds are withdrawn from the RRSP down the road, they are fully taxable. The present value of the implicit tax loss to government is therefore not high at all. In fact, that mechanism imposes a natural limit, because individuals would not choose to take advantage of the rollover conversion unless they are planning on leaving the money in to accumulate gains within the account for some time.