Not an expert on this use of it... yet, but thought I would throw in my 2 cents.
The answer would be "YES". You just have to use an Object3D plane primitive and place your 2D image( create a Texture object ) on it. The blit method is for 2D overlay use only on your 3D world. With the plane primitive you can use alpha image on the plane object and scale them rotate and translate all axis including the objects own vertices matrix i.e local and world coordinates.