Yes, that’s the idea. Obviously, some will sound better than others, but it can work with many of these different options. As you said, the most important factor is the length of the measures. Is the song in 4/4 time, 3/4 time, or 6/8 time? Once you have that determined, then you can fill in those measures with whole note strumming, half note, quarter, 8th, or 16th note strumming.
You never fail until you quit!