The answer is yes, yes you can. As long as you have one made after about 2011, at least. In the video after the break, [Blitz City DIY] takes us briefly through the history of the venerable Easy-Bake Oven and into the future by reflow soldering a handful of small blinky boards with it.
You’re right, these things once used special light bulbs to cook pint-sized foods, but now they are legit ovens with heating elements that reach 350°F and a little above. The only trouble is that there’s no temperature controller, so you have to use low-temperature solder paste and an oven thermometer to know when to pull the little tray out. Other than that, it looked like smooth sailing.
If you’re only doing a board every once in a while, $40 for a reflow oven isn’t too shabby. And yeah, as with all ovens, once you’ve reflowed a board in it, don’t use it for food.
If you’d rather build an oven, high-powered light bulbs will still do the trick.