Autoleveller

Hi, I work with an old non-cnc lathe with a wornout bed. My problem is: If there should be a diameter lets say between 300.00mm and 300.03mm at a lenth of 2500mm the finished workpiece has diameters between 299,90mm and 300,15mm. So I would like to retrofit it with CNC-Hardware and Mach4. Is it poss...