Like most people here mentioned, I think that you definitely can, it's just a question of how it reads.
I personally find that this format (which resembles a screenplay or, a bit more distantly, a script) to be far less immersive than a traditional novel. As in, when I read something written in this format or a similar one I'm constantly being reminded of the fact I'm reading, which doesn't allow me to get fully engaged and immersed in the story. It somehow creates another degree of separation or a barrier, if that makes sense.
That being said, this is your story, and you should go with the format you think would work best for it. I genuinely believe there's no point in writing something we're not happy with - so at the end of the day, the decision is yours. Regardless of what it is, wishing you the best of luck with it.