I think it is possible. Maybe even more possible than if you were at the back of wave 2.
Here's my untested theory. When the wave starts you can normally move up. If you are not too passive, you might move past 1-2 corrals worth of people. With a little luck, you might start only 3-4 minutes behind the wave leader. The second thing to realize is that your goal pace is about 3 minutes faster then the rest of the wave. You will have to do some weaving but by being patient you won't waste much energy and could pass the bulk of the wave by 1.5 miles. At that point it won't be too difficult to start increasing your pace as the wave will start to thin out. This is especially true if you have passed 6000 runners and under 2000 (strung out over 400 meters) are left to pass.
As you reach the front of the wave between mile 1.5 and 2.5 you will have an open road. The last wave 3 runner had a 15-20 minute head start and at 2 minutes a mile it will take 8 plus miles to catch them. By then, (mile 8-10) they will be strung out enough that you will have no problem passing them. (also by that time the road is wider).
More advice. Skip the first water stop. Stay in the middle of the road or towards the opposite side. Typically the water stop is on the right and about 50 meters later more tables on they left.
The reason I say it might be easier than the back of wave 2 is because the range of time in wave 2 is much closer (maybe 7:15 to 7:50 per mile vs 9:00 to 10 plus). Since the runners in wave 2 are faster it will take you longer to pass them. It will take on;y 1 mile to gain 2-3 minutes on wave 4 but it will take over 3 miles to gain 3 minutes on wave 2. And Wave 2 is more bunched so it could be harder to find room to pass.
Just some random thoughts. It would be nice to hear your thoughts after the race.