Yes, sure. As long as the data content of each partition fits into the scaled down size of its corresponding partition. Otherwise, and error message will be displayed indicating that the OmniClone cannot fit data to the target drive(s).
NTFS partitions can be scaled down by approximately 60% due to the master file table that resides in the center of each partition. The error "Cannot fit data to target" can also be caused by a badly fragmented master drive. In such cases, de fragmenting the master will generally resolve the issue.