I was looking over the Pneumatics Manual earlier. I don't really know all that much about pneumatics, but I would think that it *would*

be possible, don't take my word on that though.
I'm just not sure how exact/precise/accurate it would be though. You might have better luck by getting 3 cylinders with a short throw and actuating each one independently.
If you do use the Magnetic Sensor, I'm interested in their performance. We have ordered 2 cylinders with the Magnetic Sensor just to know their position though, whether or not they are actuated.