Yes, if the applications are hard-coded to connect by name, you can do something like:
emailserver IN A 192.168.0.5
oldserver1 IN CNAME emailserver
oldserver2 IN CNAME emailserver
and that way you keep one live emailserver name with one address (for ease of management in future), and redirect the old servers to point to it. Or you could do:
emailserver IN A 192.168.0.5
oldserver1 IN A 192.168.0.5
oldserver2 IN A 192.168.0.5
Which ought to work in the same way, but just means you have one IP address entered in lots of places, and makes it a bit less clear what the intent is.
If the applications are hard-coded to connect by IP address, you can't use DNS, but you could add the old server's IP addresses as secondary IP addresses on your live server, and make sure the email service and any firewall software accepts connections on those addresses as well.