AC induction motor control

Is this a class project? You might be able to get the development board and tools for free if you talk to a representative.

Freescale makes some useful microcontrollers and development boards. All you do is write the software.

http://www.freescale.com/webapp/sps/site/overview.jsp?nodeId=02nQXGrrlPglzQMszY

Another hot industry project is brushless DC motors. They work in a way similar to a 3-phase motor, but they are super hot in the industry world, so getting knowledge there is a plus. Everybody and their mother makes controllers for these and some big players are PIC Micro, Freescale, and TI. Again, you can get development boards, some with motors right on the board.

Look on the web.

Of course it can do it if you build it the right interface and write the right program.