yes you can, but against smart opponents its kind of difficult if not down right impossible to actually get them to drop properly.
I recommend practicing it off of a spark bolt > 5C > 6A > Atomic collider Reset on the training dummy set to Neutral tech to practice. When the dummy gets popped back up in the air off of 6A, hold Atomic Collider (so it techs) and as its coming down let go of atomic collider BEFORE (this is important) they actually reach the Collider to prevent the collider from actually hitting, the closer the better. Start buffering 720 a little bit before you let go of AC.
If done correctly the dummy will sort of drift in the area directly in front of you and by the time they hit the ground, your 720 buffer should be done and away they go for massive Soviet damage.
The reason why its down right impossible to get it done properly against smart opponent since the whole thing is dependent on when your opponent techs, which most people will not tech at all against this. Also during the drift downwards, your opponent can ruin the whole thing with a simple 5A.
Easier and better to just let Atomic Collider hit (regardless if they tech or not). Its guaranteed damage either way and if they tech, resets the combo gauge and can put you into a more favorable situation for a 720.
720 is the ultimate tech trap, wish it was a little more than that but the jump startups counting as part of the jump itself, prevents it from being more than that.
and for the SFIV players in here, learn Tager in BB and go rape with Gief in SFIV