Yes, it can be done with the Baby Lock Evolution or Ovation serger models. Here are the general directions to set up your serger model for achieving a blanket stitch.
Settings for Evolution or Ovation Sergers:
Cut a narrow strip of Sulky water soluble stabilizer and place along edge of fabric and serge the stabilizer into the flatlock stitch. Pull the stabilizer to the edge of the fabric and tear away. This action pulls the stitching into the blanket stitch.