yes bro you can do that,but its not a good practise ,what we do is that we use a microcontroller to interpret the signal of temp sensor and utilize in an any manner we like. but if you wanna use that directly then first of all you wud have to design a small opamp that could amplify the voltage and current (since the current of the temperature sensor's o/p is veryyyy low and it wont blink your LED ) and then you can do it,but before designing try lm741 it will do your job i guess.