Russ - Yes, its possible. You achieve that via the User's profile. Click on the Help icon, and follow the instructions in Administration Guide --> How-To --> "How To: Set Threshold rules and get E-Mail alerts"
On your solar winds server go to Trap Viewer - file - Settings - Alert/Filter Rules - Add rule.
It would be even easier to find SNMP trap message you are interested in and right-click on it and Add Rule. It will create rule for you, so you don't have to type conditions.