1. Not through the campaign manager but you can apply for Linkedin developer program and do it via their API. See more info
here.
2. Yes and No. Depends on what factors are you using to build that list. If you're just using firmographic and demographic data to make these lists you will get limited success but if you club this data with intent and behavioural data using tools like 6sense or Bombora, then you can make much smarter lists and improve your impact.