Finally finished ordering computer parts. I was about to head to bed when I saw this.
It's possible because I did it for that Daytona wrapper a few years back, but the end result isn't always great because of the way you have to do it. Typically those force feedback values are an absolute position, or a direction plus power of force. What you do is read those values constantly in a loop, storing the previous value and if the difference between the values is more than a certain threshold, indicating a sharp movement, you turn on rumble for either a set period or time or until the difference threshold of future reads decreases beyond a certain point, indicating stillness. It sounds pretty straight forward, but the problem is most force feedback systems take the real position of the wheel into account and of course the player can turn the wheel, so an extremely sharp turn could give a false positive.
Hope that makes sense.