Is it possible to have a in-game coding mechanic?

I'm currently working on a game, and, I would like to know if I could do these two things:

• Create my own simple, coding language. (probably using .NET)

• Let players then click on an object, and pop-up an interface, where the users can insert and execute code into that object.

• Have this all done in multiplayer. (updated locally, and for the other player

Does anyone have an approach on how to do this?

Thanks, in advance.