Sure, you can have greenlets create other greenlets to an arbitrary depth. That's extremely common and doesn't require anything special.
Just remember gevent doesn't help with CPU-bound processesing; your code will still only be able to use a single CPU core. If each greenlet needs to do lots of I/O, for example, you may be able to extract some concurrency that you wouldn't otherwise, but that's not a given. (Still, greenlets can be a convenient way to organize code.)