It is possible. But will involve reflashing to older OS, causing you to reactivate and reinstall everything you want. Will also want to mod it to prevent the OTA update notifications.
All the info you need is in these forums spread out, but I could put something together for you in the next few days. School and work have me bogged down.
My apologies. Long day, little sleep. I did not realize this was on the Droid X forums. One downfall to using tapatalk, I can't see which subtopic I am in when just looking at unread posts.