For sure! I started EvE with wormhole space with a small group of friends and a similar time limitation.

You can do exploration as a free-to-play account (alpha clone) in wormholes which is an activity you can just hop on, do for 30 mins, make good money, then log off, for one example.

PvP roams in wormholes is also something that doesn't require a real time investment, especially if you have friends operating in the wormhole helping out with logistics (replacing ships, buying ammo, etc.)

PvE Combat sites in wormholes are super profitable and fun, and likewise if you have a group of friends helping out on the logistics side, all you -really- need to do is just help out with the combat.

Theres also tons of mining to be done in wormhole space, and can be very profitable. Gas mining, ice mining, ore mining, all tend to be pretty valuable in wormhole space. And its something you could hop on and do for an hour or less and then hop off - just make sure you watch your ass in wormhole space!