Of course you can create this type of monitoring. Just make sure you have the proper service policies in place. There are default policies in place for port monitoring: Port Status High Sensitivity, Low, Percentage, Redundancy. You can use either the existing service policies or define new one that suite your needs.
You can create a service hierarchy that helps you monitor each link/port status individually so you can report on it's overall status.
Internet Connection (Service Policy - Service Health Redundancy)
-> Primary link (Service Policy - Port Status High Sensitivity)
-> Port1 (Service Resource)
-> Secondary link (Service Policy - Port Status High Sensitivity)
-> Port2 (Service Resource)
At the end of the month you can report either on the Internet Connection service or the others (primary link, secondary link). This way you know what was the status for each of your services.
This is the power of this system: you can create monitoring for any type of attributes and create relations between heterogeneous elements and monitor them globally. Basically there's not limit in monitoring, as long you are able to get the status of a model based on an attribute.