Emulating Old Games in Unity 3.5

I'm an amateur game designer working on a project that includes the ability to drop by a local arcade to play arcade games. Four of these games will be created "in-game", whereas another three to five games require a "switch" between the main game and the arcade game, during which time within the main game will continue to pass.

My question is, hypothetically speaking, is Unity 3.5 capable of emulating old arcade games (or even 16-bit era console games) within a game? If not, is there any other workaround besides recreating said games from the ground up?

Thank you.