AHC: Kingdom of the Americas

Is it possible for Spain to in any way have the colonies break away like Portugal did, with a single country with a king in charge instead of several small republics?
 
I don't know about a single country over ALL of the spanish colonies but Iturbide set himself up as emperor of Mexico and iirc ruled central america for awhile. Maybe if Bolivar or San Martin had a bigger ego and declares himself king?
 
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