<p>Yes, you can do it with Formatting Tags. If you can first read the manual entry to familiarise yourself with them.
So I created a tag for Times New Roman, by using the following details:
Description: Times New Roman
Tag: times
Start tag: <span style="font-family:times new roman;">
End tag: </span>
Obviously you would replace Times New Roman with the font of your choosing.
Then when editing the song I can surround the appropriate text with the new tag {times}, as explained in the manual.
(Note, it doesn't appear to work if your theme is set to Justify horizontal alignment)