You'll run out of bump travel in the front pretty quickly when really slamming the car. Stock sized tires hit the inner wheel wells (metal) around 4 to 4.5" of bump travel from stock. Lowering 3" gives you only 1" of bump travel on the suspension...
That said, you can custom make your suspension however you want. Get some weld-on coilover sleeves and custom length shocks (shorter!) and you are good to go. It will handle like crap but look cool.
This is my Alltrac Camry on Alltrac Celica coilovers (different than FWD Camry/Celica stuff):
Its not slammed - lowered less than 2". Its my daily driver, so I like to keep it reasonable. No problems in and out of driveways or on dirt roads or snow.
-Charlie