"Does anyone know if its still even possible to train as a Flight Engineer? "
FlyerJoe,
A FE on what airplane ? Under what regulatory system ? Just curious.
In the USA, I'd suggest some outfit along 36th St in KMIA, perhaps ? There is an outfit in AK operating DC6s that occasionally advertises for FEs but having a MTC background likely goes a long way toward that job.
All the DC6 FEs I flew with began their careers in the hangar as mechs...even the ex-PAA/TWA guys. Real FEs are worth their weight in gold (I was not "real").