Yes.
We are aiming for that with Caddy. Starting with internal PKI. Caddy already has a built-in CA and ACME server, so it's just a matter of setting the lifetime to be very, very short.
However, ultimately this will require TLS clients to implement proper support. For example, we already see problems in some web browsers where their TLS logic doesn't account for short lifetimes (like < 1 hour) and so page navs result in security errors because the cert has expired when actually all they have to do is renegotiate the TLS connection. It's debatable whether a cert needs to stay valid through the entire connection lifetime or just for establishing the connection.
There is a performance penalty of doing this, of course, but for certain use cases it's acceptable.