No problem.

Caution:

Be aware that every XX milliseconds your game will be updated.
If the time that your procedure needs to do all your actions is larger then the timer interval, your procedure will not get executed fully.

In example:

The interval is 1ms.
The first 20 lines inside your procedure takes 1ms, the total (40 lines) will take 2ms.
Only the first 20 lines will get executed.

So be aware, that can be a horrible problem!