Yep, that's the plan anyway. They've done it for one or two other CoG games so it's certainly possible, although in Vendetta's case it will be a little more complicated as I'll also be wanting to change some player ratings and the data for certain game mechanics (to better suit the new era, since in #2 you'll no longer be a lowly Gangster / budding Gang Boss but instead a rising Mafioso).

If the game proves popular enough I'd like to continue the series in installments--e.g. Vendetta 3 would be set during the mafia's "Golden Age" of the late 40s & 50s and be heavily influenced by The Godfather (obviously!), and your character would be close to Don Vito's age. If we ever reach #4, or even #5 though (the latter would be Sopranos era), by then you'd be playing the son or even the grandson of your original character from Vendetta 1 . . . But one step at a time.