In a word: Absolutely.

Confront a spider in your lucid dream. Remind yourself that the spider cannot hurt you. (This is a good mindset to have, because this is true of most spiders you'll probably come in contact with, in waking life.) Once you're comfortable, pick up the spider, hold it in your hand. Let it walk around your hand a while and just get used to it.
The most important thing about facing fears in dreams is pretty much the most imporant thing about facing them in waking life; staying in control of yourself. Stay calm and realize that it's harmless, and you're looking at it as an object of interest, not a threat.