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Yes, but multiway pots are a lot harder to navigate than HU so its a process where relative equities are narrowest preflop and of course go to 0-100 after the river. A lot of working through these pots is recognizing how certain boards help/hurt certain hands and understanding the relative value of hands with more than 1 opponent. Equity denial becomes a big factor in multiway pots, understanding that a flopped top pair is very likely not going to be good by showdown if 3+ people get there.
The hardest part about estimating ranges with loose players is that they are just so wide. For that reason, having a solid preflop strategy and understanding equity evolution postflop is more important than having great range estimations preflop.
Thanks!