Yes, you can do this. There will be no ill effects so long as you follow some simple rules. Plug the bore and tape over the cylinder face, breech end of the barrel, and any mating surfaces. Be sure to detail strip it first and only blast the trigger guard assembly, frame/barrel, and cylinder/crane assembly. Ensure that all the grit has been removed and you thoroughly clean and lube all the parts before you put your non-blasted parts back on.
The only time I've done this is when I put a Bisley grip frame on a Super Blackhawk upper unit. The Bisley grip was polished stainless and the Super Blackhawk was brushed. both guns looked satin when done and pleased the customers who got them. (Need to do that again someday)
