To simulate the usual long term ageing of asphalt binder (which accounts for 7 - 10 years of field performance) you need to run the RTFO first and do the PAV on the sample. However, to get better results closer to that of field it is better to do RTFO+2PAV as presented in literature (Bowers BF, Huang B, Shu X. Refining laboratory procedure for artificial RAP: a comparative study. Constr Build Mater 2014;52:385–90.)
Ramya answer is appropriate: you can, but it is not standardized. EN 12591 refer to PAV method, but if you obtain the same results as PAV, with a much longer work time at RTFOT, you could also try to propose such as a new approach which could avoid the PAV cost and maintenance. You should try, remember that some in EU are experimenting 3 times Rotating flask (DIN) , and they say it simulates PAV results.