If you're thinking about going where I think you're thinking of going, let me bust this, post haste. Dream time cannot be significantly "stretched." Although it is possible to fast-forward, rewind, and pause time, you would not be able to do something like, say, live a full 16-hour day within your short REM period...at least, not as how you would expect. You could skip to the highlights of such a period, but large scene skips and gaps would occur. You can alter your perception of time...to some extent. You cannot, however, live an entire lifetime in your lucids as you do in reality. Even if you quadrupled your brain's speed and power (a feat impossible in itself), you would not come close to the desired results.
As the others stated above me, time dilation and compression are completely possible, and it is even possible to manipulate time in your dreams (think
Time Machine by H. G. Wells

), you cannot "stretch" dream time to any significant figure.

I'm sure some people would beg to differ with me on this, but from what we know of the laws of
reality, we can safely infer that time stretching is not going to occur, or at least not to the Average Joe.
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