It's possible, and very effective if you want to save time, but it comes at a (very slight) hit to actual muscle growth, since it's likely you'll end up limited

It's possible, and very effective if you want to save time, but it comes at a (very slight) hit to actual muscle growth, since it's likely you'll end up limited by your cardio as opposed to the muscles themselves. If your goal is to build muscle, a set brought to failure by anything other than the target muscle is ineffective.