Yes. You can definitely do that. Per the Coast Guard Recruiting Manual (COMDTINST M1100.2F) a three year program would comprise of 3 (active), 3 (selected reserves) and finally 2 (inactive reserves).
As to having experience... no, I haven't. My contract was a 6 (active) and 2 (inactive reserves). Most people that do active enter a 4 (active) and 4 (inactive reserve). A contract of 3 (active), 3 (selected reserve) and 2 (inactive reserve) is probably the least common contract for a recruit.