Yes, you can do this. Make the repeating project, with a start date for the beginning of the week. Add your tasks for M, T, W, and Th, giving each one a start date for that day, and a due date for that day. Here's an example:
Each day's task will only become available on that day, but due to my making the containing project a parallel one, Tuesday's task won't be blocked by your failure to complete Monday's task. I've set the option to have the project complete itself automatically (and thus spawn the next week's project) when the last action is completed. Note that there's still a hazard here if you don't complete the project within the week — next week's project won't be created until you've finished this week's work. If you think that might be a problem, you can have two of these projects set up for successive weeks, each set to repeat every 2 weeks instead of 1, thus giving you an additional week to tie up any loose ends.