Yes, that's possible. Click on the + in front of the expression on the Expressions tab. Select Background Color and enter an expression that calculates the color in the Definition input field. You can add all your conditions and the matching colors in that expression.
Thanks! This looks like it would be closest to what I'm looking for. Is it possible to generate the color ranges dynamically? The data set I'm working with isn't just confined to 3 records. The table I'm working on is 5 regions and each region has a different number of areas. So one region may need 10 different color ranges while another might need 15.