This is entirely possible, but I would investigate inductive heating and how it works before proceeding. Depending on what you are doing, it might not be as simple as you expect, especially to vary the power level. Also, the components to switch the inductive load might be fairly expensive and could require significant heatsinking. Otherwise, it would be fairly straight forward to at least be able to turn it on and off. And as always, be careful when working with mains voltage. It is dangerous and you could easily hurt yourself and your equipment.