I'd say it is possible, but it will definitely take a fair amount of work.
Perhaps this macro will help you get started:
Set Clipboard to RTF Hyperlink & Plain Text MD Link
Among other things, it allows you to select any text on a web page and create a Markdown link using that text and the page URL.
It would not be too hard to modify that to:
- Save the selected text (either as plain text or rich-text) separately
- Create the MD link using the web page title and URL
- In fact, this option is already in the macro
Since you don't need BOTH a rich-text hyperlink and a plain-text MD link, that will greatly simplify the macro. Just use the parts that you need.
Good luck and let us know how it goes.