...only if you insist on using the DisplayPort channel of Thunderbolt 2. Now, there's good reasons for doing that (e.g. so you can support any graphics card with a DP output, any display with a DP input and so downstream TB peripherals can drive legacy displays) but with Apple making the equipment at both ends, that isn't essential.
Otherwise, TB2 can transfer 20 Gbits/s of data in PCIe mode, in whatever format your heart desires, unfettered by DisplayPort standards. That could include whatever compression (lossy or lossless, adaptive frame rates, whatever) you need to get the frame rate and resolution you need to fit in 20 Gbits/s.
As I said, I don;t know enough to claim that this is technically practical, but the principle is the same as DisplayLink (sends compressed display data over USB), AirPlay mirroring, Screen Sharing or ScreenRecycler (send compressed display data over ethernet/WiFi) - except, in those cases, the bandwidth of the connection is so much less than DisplayPort/HDMI that they are often compressed to smithereens.
...I agree that an iMac using dual DisplayPorts internally would be easier though.