Yes you can, obviously you will need to put +2" shocks on the back as well.
My D2 has the bags replaced by springs, but only because it is being prepared for overland travel and I value the increased reliability more than the benefits bags bring; ACE has been removed for the same reason. Even then it is compressor and height sensor failure that concerns me; bags are far easier to change than springs and much easier to carry as spares.
For pretty much any other purpose bags are the better option; the ride is better on road, it gives self levelling for towing, and off road it gives you the option to raise the rear suspension at will. Don't replace it on a whim, the chances are you are better off with it.
If you raise/lift it.... would you not need to do something with the rear sensors or do they extend enough to accommodate the lift ??