Yes... you can search for supported devices... here's yours, but note that Wifi is not well supported for that device.
Yes, you can install VPNs of pretty much any flavor. You can also search for tutorials (on the forums or wikis for openwrt/LEDE, or on the web in general) for setting up client devices (i.e. connect to a remote VPN server) or server configs (i.e. make your router into a VPN).
I'd recommend that you do your research first, then ask specific questions if you get stuck or confused.