Yes. It is Possible
Here's a useful fact: If $a$ and $b$ are integers with $\gcd(a,b) = d$, then there exist integers $x$ and $y$ such that $ax + by =d$. In fact, one can compute exactly what $x$ and $y$ are by the extended Euclidean algorithm.
In this case, we have $$ 3539 \times 8663 - 4209 \times 7284 = 1$$
Or, $$ 3539 \times 86.63 - 4209 \times 72.84 = 0.01 $$
So, in theory, you could measure $0.01$ cm by marking off $3539 \times 86.63$ cm along a line, and then marking off $4209 \times 72.84$ cm along the same line; the difference in the markings will be $0.01$ cm.
Of course, now that you can measure $0.01$ cm, you can measure any multiple thereof.
For your generalization, given two blank rulers, you can measure any length that is a multiple of the gcd of their lengths. (Make sure you choose units where the lengths of the rulers are integers. Here, we chose 0.01 cm)
Edit: As noted by Silverfish in the comments, the interesting fact I mention above is Bézout's identity