Hi Justin,
Yes, you can write custom code in your event handler to send an email. You can use SharePoint utility to send email, be sure to set up email setting from Central Admin.
http://msdn.microsoft.com/en-us/library/ms460489.aspx
http://tolgaizgi.wordpress.com/2011/05/31/sharepoint-2010-c-how-to-send-an-email/
Hope this helps you.
Thanks, Kashif