no and probably no.
I think you can control the volume of a whole movie clip, but you will need to use the Sound class.
On your main timeline
var mySound:Sound=new Sound(_root);
I believe that will set the maximum volume for the entire swf. I just tried it with a parent and a dynamically loaded swf. I set the volume for the _root and it controlled both timeline placed audio on the loaded file and code controlled audio.
Why do you not want to use the sound class?