I can't find anything within the library that points to this. Is it possible?
If you send a transaction with web3.js, the tx will be sent to the connected wallet for signature.
I'm using Phantom as my wallet, and Phantom supports the Ledger Nano. So when the Solana account I'm connected to in Phantom happens to be an account that's on Ledger, Phantom will automagically prompt me to approve the transaction on my ldeger.
It's really simple.
Since I'm using Phantom, I cannot tell if/how it works with other wallets.
Also, the Solana wallet connector allows people to connect to their Ledger wallet directly, but I haven't tried that yet.
There's example code that may or may not still work in the ledger app repo