yes. I am building my car for those types of events and half mile. but I would have concerns depending on mods and HP level.
You are in 5th and 6th gear a lot, depending on power level, that could be a problem. Those gears are not really built to handle a lot of abuse in stock t56 and are more overdrive gears.
Also, Worth mentioning, although I have never had problems, but You can do a search and read about some motor concerns in regards to continuous WOT pulls in 5th. Probably back off well before redline would be good idea if motor is stock internals. E85 might help a little as it is a cooler burning fuel.
Make sure all of your cooling is in place. small pully eatons, older KB/whipples might run hot depending on the run.
Last....brakes!! I would look into at a minimum some higher performance pads and or rotors. You will get up to speed, otherwise you just tend to lose some of the pack. Slowing from 140is not the same as slowing from 90 on the freeway. But then again, that's how we do rally's in Texas
