It is absolutely possible. Your best time to do research is your first 1.5 years of graduate school, before you hunker down to dominate Part I (a must). You have to look at your goals (DO vs MD residency) and find a mentor to match you. What you have to offer is time, including the summer between your first and second year, as well as enthusiasm. What you need is a mentor who will make time for regular meetings, and (ideally) has success in mentoring students that go on to match. Beyond a Part I score, the ways to differentiate you are research, evidence of spending time clinically within and loving orthopaedics (and knowing about the field), and having people who really know you who can vouch for you. A good mentor can facilitate all of that - of course the other element is that you love working hard and get along well with people on away rotations, but without that all is lost.
So figure out your goals, research faculty in orthopaedics, contact them early, and vet them let they do you. Both have a lot to gain. I'd prefer a first year medical student over a second year, because they are going to quickly get wrapped up in the exam and all that. If you act quick you could even spend a month or two of this summer working doing research. Then you'd be ahead of the game. Honestly the prospects for DOs going into ortho isn't something I know much about, but they principles are the same I'm sure. You just have to be better, harder working, more knowledgable, and dedicated than most everyone else.