If you're using X to jump then it's near impossible. If you use Y to jump, then it's definitely possible but not very easy. You can, of course use A or Z for those fast aerials but then you can't control your drift 100% (you can get pretty good at it though).
One thing you can do when using Y to jump, is to an use different parts of your thumb/palm to hit the c-stick. Some people use the fleshy part of their thumb/palm to do aerials exclusively.
Like this.
Apart from that, you can also of course use a claw grip, using the thumb for the c-stick and index finger for the face buttons (A/B/X/Y).