Retro fitting

Hello everyone! I'm hoping for some insight on linux cnc if this could be the right choice for my end goal, I have and old cam machine Im hoping to retro fit with a cnc control to elimate have to design and cut new cams for each part, I have a decent understanding of the machine and how it works. Tho I have never tried something like this tho (a cnc intergration)
The machine would be 2 axis z,x it has to fixed tools that simply swing in and out on a tool head that work oppsite of each other 1 goes in 2 goes out vice versa.it has an 8k spindle Also a 4000 rpm material straightening unit. with a carriage that move foward and back. 
The timing is all done by cams, belts and chains. 

Is building a system like this something I can do with linux cnc? Is this a feasabile project for intergatation?
Any resources I could check out beyond this site maybe people who have attemped similar?

Any tips, information and thoughts would be welcome 
attached is a photo of a machine similar to what id want to retrofit