Yeah it's posible.
Any supported by OLEG and OPENWRT camera can do that.
You can write script to take photos every xx minutes.
You can write php script to provide lover quality photos on web page.
The best for that will be openwrt with 2.6 kerel but on oleg You can also do it.
If you will chose openwrt i can help you with that (i have experience with UVC)
best regards
Damian Lesiuk