Yes you can. You need to enable developer mode and enable the option to download from unknown sources. Similar like on a normal android phone. But not all apps work on the chromebook. So you might have issues with installing games and virtual spaces.
I think you can root the ARC++ or now called ARCVM which makes it possible for android apps to run on your chomebook, see here. People done it. Once you root it, the apps will obtain root access and you won't need a virtual space. So you might want to give it a try. See the tutorial.