Hi vmhatup, Welcome to SitePoint!
Yes that can be done but it requires some trickery with floats and negative margins.
Here is a live example of the layout you have described.
Here is an exploded view of the general float structure.
With that last link I posted, drag your browser window back and forth and you will see the 50/50 floats (pink and palegreen) drop down as the widow is re-sized. It is those floats that get negative margins which allow the fixed width center column to stay in place.
The wrapper div is set in a %width so it will adjust to your viewport and let the sidebars extend so you can see what is going on. You can also view the page source for the css/html.