Yes you can.
Saving Disc Images
Instead of recording a project to disc, you can save it as an image file. An image file is a single file, saved on your hard disk, which contains all the data and formatting information needed to create a CD or DVD. Image files contain all source data (as opposed to saved Toast projects which contain only references to the data).
You may also want to use an image file to avoid having to use a blank disc. Mounted image files appear and behave like an actual disc in your computer. For example, you can create a disc image for a DVD-Video project and preview the output using the DVD player in your Mac without having to burn it to disc. If you are satisfied with the results, you can then burn this image file to a disc. If not, you can simply delete the file and start again, and you have avoided using any blank media.
Disc images have an added benefit of being faster to access than a disc in your drive and may offer longer battery life for notebook users. See Mounting Disc Images.
You can create disc images from any Toast disc type.
To save a project as an image file:
1 Set up your disc project as you normally would.
2 Choose File > Save As Disc Image.
3 Type a file name and select a location to save to.
By default, Toast creates Mac disc image files, which are compatible with the Toast image mounter and the Disc Utility program included in Mac OS X (except for audio CD images). You can also use Toast to create cross-platform (Mac & PC) disc image files by choosing File > Save As BIN/CUE.