it is possible but with a significant caveat: the value will only be accurate when displaying the Epic. If you modify the customfield on one of the issues of the Epic, the change will not automatically update the calculated field (the sum) of the Epic until the Epic is displayed. Which means the index won't be updated, and thus you won't be able to search based on that sum, nor will this sum be accurate in a table view.
As for the formula, it is rather complex and would require more time to write than I can spare right now, because it involves iterating over linked issues (through a particular link type), which is not trivial in JIRA.
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