Yes. The reprappers are making strides in this direction. There's also conductive ABS plastic.

http://www.repraper.com/goods.php?id=172

http://blog.reprap.org/search/label/Printing%20Conductors

http://blog.reprap.org/2012/04/some-more-printed-circuitry.h...

However, you're thinking too far ahead. The current home printers don't have the resolution to print circuits on the scale of a chip. You could probably do it, but the chip would be basic, and quite big and slow.