yeah, you can. it's less outright useful than bair wl's, due to hitbox placement and timings, generally, but you can get really nice combo followups out of it (or so i'm told).
really tricky stuff would be sh-bair-breverse float (and somewhat useful, since you can use this to bait oos options, somewhat). you can probably put out a first hit of nair or beginning of uair out of this, or else just straight double jump.
or sh-bair-dj. not sure what the trickiest followups would be, though. you could maybe do like... dj-dair-waveland? if you're just looking for fancy **** to do. alternately, get a 2nd controller and put the shield up and work on doing them with the timing on shield vs whiff.
if you're wanting really frame perfect type stuff, try for aerial flame choke into grab on bowser or squirtle (they're in the air for exactly 7 frames), landing ftilt out of aerial flamechoke on zard, dk, gnw, olimar, sonic, or yoshi (all in the air for 10 frames) or dtilt on pit (airborne for 11 frames).
**all of the above frame counts are in terms of after ganon is able to act**