Contact your reseller about acquiring a RealDWG license.
Sure technically it is possible.
You would need a backend server to get the information
from the web page and process the information and sent it back.
Look into FreeWheel to display your model.
http://freewheel.autodesk.com/
You can also look at http://www.opendwg.org
This is an alternative to RealDWG and
only costs 250 for an associate membership to try it out.
2000 for a commercial one.
The API is designed to build an application from the ground up and not just a DWG interface.
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