It's definitely possible, though I think you could also do it in the front end with getResources and NewsPublisher. That might be easier, since doing it as a CMP would probably require some ExtJS voodoo.
To answer your question: yes, NewsPublisher will let you set the parent folder and template in the snippet tag.
Lucas is right, though, CMPs are very cool if you're willing to spend the time developing them. An additional consideration, however, is that if you let users into the Manager, you need some complex permissions to keep them from doing harm and will also probably want to customize the Manager extensively and use Form Customization to customize the Create/Edit Resource form.
Before you put a lot of time into NewsPublisher, I should warn you that it doesn't handle file TVs -- so if you need them, you'll have to go another route.
AFAIK, all the other TV types are fine (except maybe resource list).
As for file TVs, every few months I spend several long days trying to get some kind of file browser to work in the front end with NewsPublisher and then give up. Someday . . .
Some time ago, a very capable NewsPublisher user did get it to work by sneaking the user into the Manager, but I was afraid that might introduce security issues. I didn't have time to check it out then and I can't seem to find his work now. TinyMCE has an add-on file browser, but they charge for it.