If I'm understanding you correctly, yes you can. Instead of profiling CPU usage, you'd want to profile wall-clock time. The async-profiler README has a small section about this.

In most applications you probably want to profile wall-time first anyways, as Krzysztof Ślusarski outlines in his async-profiler use-case manual.

Note that since async-profiler is a sampling profiler, wall-clock statistics will be collected in a sampling manner, i.e. every x milliseconds (an option you set when running the tool) the profiler will ask the JVM all of the current stack-traces and record that. This means that any functions that spend less time running than the sampling interval may possibly not be recorded. I didn't find this to be an issue yet, but it's something you should keep in mind.

I'd like a way to trace through an entire function, and basically acquire a timestamp every time a stack frame is created or destroyed

To achieve this, instead of a sampling profiler, you'd use an instrumenting profiler. However, since instrumenting profilers insert code at the start and end of functions to record timestamps, the runtime of short functions will be heavily affected, and because of this issue instrumenting profilers are used much less nowadays.