The short answer to your question is yes, this can be accomplished. You can tie subcomponents to a single aggregate component that could itself be a subcomponent of a device thus developing a pseudo-hierarchical relationship.

In regards to doing it in the modeler are you meaning you want to build the entire relationship at once (read single modeler) or in multiple steps (read multiple modelers)? The later doesn't seem like it would be very hard to achieve. The former, while doable, would require a little more logical to handle it.

Check how IpInterface and IpAddress are related. I think this is very similar to what you are attempting to accomplish. (Device -> OperatingSystem -> IpInterface -> IpAddress). This should provide you a good guide.

You might also check the ifconfig (DataCollector/plugins/zenoss/cmd/linux/ifconfig.py) to see how to implement this from modeler.

Hope that helps.