Yes! As Greg mentioned, I've been flying an Estes Phantom (extended with a bit longer Clear Polyproplylene body) for a couple decades now at demonstrations for Grade and Middle School Groups.
The trick is to use an albative internal sleeve to catch the burning bits and soot from our ejection charges, I ususally add a couple extra squares of FP wadding in the clear nose cone just for extra protection. Sorry I don't have any good flight photos of this rocket as it doesn't show up well in the daytime!
I also have a Clear Polycarbonate and styrene Nike-Apache that was created solely for Night Launches. The outter tubes are Clear polycarbonate mailing tubes from McMaster-Carr. To get the proper sizes you have to do a little math as the ID and wall thickness are the only available measurements, most come 48" long. They have a 2.62OD clear tube that is almost an exact match for BT-80 bodies and Payload sections.
There are a couple Clear Nose cones out there and plenty of clear plastic stuff at the dollar store that can be converted into nosecones.
Most Estes White, Yellow & some Red Styrene nose cones light up well with LED's. there are also several kits that have white styrene transitions the work well with LED lighting.
Clear .063 and thinner Polycarbonate (Lexan) does a great job as Clear fin material. If you want to light up the fins they can be fabricated from .020" or .030" clear Polycarbonate sheet using Weld-on-16 adhesive. It also helps to frost the ID of the fins to dispurse the LED lighting.
I've found frosted polyester sheet works best as the albative internal sleeve and will last 3-5 launches before needing to be replaced. Heavy tracing vellum also works as a single flight shield.
To be perfectly honest as mentioned above: Clear Mod-Rocs are not that impressive during daylight flights. They are on the otherhand quite impressive during night flights.
Stuffer tubes of standard cardboard body tubes & centering rings can be covered with Chrome Mirror Trim Monokote so they disappear from view which makes hiding wiring and other internal features much easier.
There are also a number of transparent "colored" Lamp shields in T-8 (about 1") and T12 about 1-1/2" diameters that can make interesting outter body shells in red, yellow, amber, orange & green. These Tube Covers come in 48" and 96" polycarbonate.
Hope these notes and pics help.
