Yes, you can. I would lean more towards M1 FS 0W-40 because it's an awesome oil, however, it doesn't really matter.
FYI: If your HEMI is consuming Red Line, you should know that it's not your HEMI's fault. I have friends who use Red Line in other engines and I've seen Red Line go up in smoke at some unbelievable rates. I'm not saying it's bad oil, I'm saying that quality control might be down the drain since they're owned by a huge corporation now (Philips 66).
Red Line is a majority PAO oil. As much as Red Line and other boutique players, or even big companies like Chevron-Philips would like, they can't get their paws on Shell GTL. Only ExxonMobil and Shell themselves have access to it. As such, it's majority PAO, not POE, like some believe it is. There are many kinds of PAO, and depending how Red Line blended the oil, they sometimes mix high in high volatility PAO, even in oils like 5W-20 or 5W-30. Under high heat conditions, or even just driving normally, those high NOACK PAOs will evaporate first.
Honestly, you'd be better off running Mobil 1 FS 0W-40 from Walmart and most likely get better protection from that oil than Red Line. Mobil 1 0W-40 is a GTL+PAO+Ester blend, properly engineered, tested, and certified by ExxonMobil.
Mobil 1 FS 0W-40 (the one you buy at Walmart) is the factory fill for $250K McLaren vehicles, Nissan GT-R, Mercedes AMG, Porsche, and others. If it can reliably lubricate those engines, then I guarantee you that it will do a fine job in a lowly American pushrod engine like the HEMI.
The only thing Red Line will do for you is lighten your wallet.