Yes! And git already gives all the pieces to make this work. (Specifically the reflog.)
The issue is that a client may not have fetched for a while before performing the force push, so it may not have all the required refs for performing the rollback.
The server of course still has all the refs, so it shouldn't be too hard to add a command (run client side) to invoke the required server-side rollback.
It is of course possible to write a post-receive hook that denies non-fastforward pushes to specific branches, but really, git should include a config option out of the box to do this at a more granular level. A common workflow is the expectation that people should be able force-push to their own topic branches all they like, but never to the default branch (except in extreme circumstances). Being able to easily set this via a config option would be very helpful in keeping working repos more "safe" from this kind of thing.