Sure... just leave the lid open and let it go to sleep like normally. Then in the Energy Saver panel in System prefs tell it when you want the Mac to wake up (like just before the alarm).
Then in the Calendar app make an event with an alarm for when you want to wake up. In the alarm setting go to the custom section and tell it to run the music file you choose as the alarm.
Yes, you may have to configure QuickTime to play the movie when automatically opened for it to work first. Also, make sure you test it before relying on it to wake you.
I use this quite older Menu Bar alarm clock and it can even wake a Mac from sleep and play some song out of your iTunes library. It is easier to setup than the Energy Schedule and iCal method, and it works in OS X 10.8 Mountain Lion.