Yes, you can prepare the alloys using graphene, but agglomeration of particles in the melt and sticking of nano reinforcement to the crucible walls and stirrer takes place which leads to reduction in the nominal wt.% of reinforcement.
Powder metallurgy route is suitable for the preparation of Nano composites.
Yes, one can develop alloys using graphene or any nanomaterials, but the major issue that occurs during the process is the agglomeration of nanoparticles and sticking of those onto the crucible walls, which can reduce the nominal wt.% of reinforcement.
I would suggest that Powder metallurgy be the best practice for the development of such alloys.