Yup... just add additional fluid to counter the amount of extra tubing you'll need to put in.

You don't really need an oil cooler or ATF cooler unless your engine experiences periods of high-stress usage (racing, heavy loads uphill for long periods of time).

The big issue is how well you do it, and how secure the cooler itself is. Poor fitment and construction could lead to oil leaks, which could lead to fires or overheating.

I've been thinking about doing this for the car, but I don't really need it... yet...