Wireless Radius auth without mac or hotspot

This question may be weird, but someone asked me and i got thinking.

Is possible to auth wireless via radius without mac-auth or using hotspot
e.g. using generated username in Radius as dynamic pre-shared key??!!!

Using EAP you can login with user/pass ..see http://forum.mikrotik.com/t/wpa-wpa2-entreprise-with-eap-peap-autentications/55110/1