Is it possible to manually create a recurring commission?

Yes, this scenario is possible the following way:
1) set up a cron job -> more info in Tools > Integration > Cron job integration (only required on standalone PAP accounts)
2) activate the "Recurring commissions" feature at Configuration > Features > Recurring Commissions
3) Set up a recurring commission in a campaign for any 'per sale' or 'per action' type of commission

4) Afterwards, navigate to Transactions > Commissions and press Add transaction. Fill in the requested fields and check in the "Support multi tier" option. After pressing the 'Save' button in the 'Add transaction' window a commission will be added into Transactions > Commissions  and a 'Recurring commission' (prescription of recurrence) will appear in Transactions > Recurring commissions.

NOTE: if you do not check in the "Support multi tier" option, the prescription of recurring commission will not be created in Transactions > Recurring commissions.  

You will need to take care of these recurring payments, because as you manually started it, you will also need to manually stop it.