I don't see why not, provided the operating systems are installed in the order XP, Vista, 7. The Boot Manager in '7' should recognise the two existing installations and set up the appropriate menu.
Although not the same thing, I did at one time have a triple boot of 98SE, XP and SuSE Linux. The Linux 'GRUB' boot manager gave the option of Linux or Windows and, after selecting Windows, XP's Boot.ini file gave the option of 98SE or XP.
_________________
Mike