Using 4051 analog multiplexer/demultiplexer

No.
There are no inputs. There are "throughputs". They work from Vee upto Vdd.
Vee can be between Vdd and Vss - 5V. When you have Vdd =5V and Vee = -5V you can use AC signals +/- 5V wrt ground. However the Arduino will not like anything negative!