Yes you can. Bird meters will work if you have the right slugs. Any decent peak reading meter will work too.
For this radio on AM, you should strive to get a deadkey at 25 watts and a peak modulation swing up to 100 watts.
Try to balance 25/100 watts with the RF power knob at or near all the way left. You may have to adjust back and forth between the high and low power pots and RF knob to achieve this. When you have 25 watts deadkey and modulation swing up to100 watts, you have achieved a 4:1 deadkey/swing ratio and you should have great audio without excessive IMD and high heat build up from too much deadkey. Make note where the RF power knob is so you know where this setting is at if the final adjustment isn't all the way left.
Hopefully the radio hasn't had the modulation limiter clipped (Q39 I believe) which is common place to do by the splattering over-modulated morons polluting the airwaves. Then you can adjust the AMC pot fully up which is fine and you still have attenuation available with the Mic gain knob.
Don't worry about trying to squeeze every watt from your radio, it makes not one bit of difference on the other end. The truth is you have to increase your wattage 4 times for the other end to see 1 signal strength difference. So the couple more extra watts you can get out of this radio will do nothing except possibly increase IMD and heat.
Also don't use a lot of deadkey either. This is what competition CBers do for bragging rights and probably because they can't communicate intelligently on the airwaves either. All high deadkey does is make your radio build up excessive heat which can lead to failure. It is like turning up the idle on your car, it won't run any faster but it will burn more fuel and get hot.