Yes it possible, take a look at Template Hierarchy codex entry to get a better idea but the simple answer is to create a template for all of you custom post type posts
create a template and name it single-{post_type}.php so if your post type is named dogs then your template file should be named single-dogs.php and automatically this template file will be used to display all of the dogs post type posts and once you edit that file it will effect all of the posts of that type.
