Yes, it’s possible. There are many ways how to do it. I would use the “Iterate table” transformation. This transformation iterates another project, passes to it a set of parameters AND entire dataset from another table.
The iterated (child) project receives the table through the Input transformation. When designing the child project, the result of Input transformation is always empty (it gets populated only during actual iterations). So you will need to copy a few lines of table data from the master project and paste it into the Input of the child project in order to have some data for designing.
You can check the iteration example #5 here: http://easymorph.com/learn/iterations.html. Example #2 on the same page does the same thing using regular iterations, but in a less efficient way.
Finally, there is a “quick and (not so) dirty” way of splitting a table: export the table into a file, then call (run) another project that has the “Split delimited file” transformation. The latter splits a big text file into chunks without loading it in memory. In this case no iteration needed for splitting the table, however you may still need it for further processing.