Yes. Simply configure your application of choice to use address 'localhost' (without the quotes) port 1080 as a HTTP, HTTPS, SOCKS 4, or SOCKS 5 proxy server. If you have modified the Local Port in the PingFu Configuration page, then update port 1080 to the new value you have set.
If your application does not have inbuilt proxy support, then you will need to use SocksCap, FreeCap, ProxyCap or Proxifier to proxify your application. Configure them as mentioned above (to use localhost port 1080 as a HTTP/HTTPS/SOCKS proxy server), and add your application to their proxification list.