Yes, it can be done! (In case you are wondering).
I used just two pattern pieces, the front and the back, made the ties out of scrap left over, and it worked just fine.
When I last made this pattern, I made a medium, and ended up taking a lot off the sides, so this time, I made a small…and ended up taking one inch off the side seams. The amount of fabric I was working with ended at the “lengthen or shorten” line marked on the pattern, and this turned out to be more than enough, though at the time I was skeptical. I did take off an amount (1 ½ inches) from the legs after all, and finished with a 5/8” seam.
Worked just fine, and I’ll remember this for a quicky that uses little fabric.