Yes, you can even go as low as 20-30 seconds if your goal is not competitive powerlifting and more aesthetics, I wasted way too much time for inferior results before switching to short rest time
Alternate working either opposing or totally unconnected muscle groups and there's no reason to rest any in between sets, which has the added benefit of turning it into a pretty incredible cardio workout at the same time.
Not entirely true. Once you're at a reasonable strength level simply switching muscle groups will not provide adequate rest for your CNS to perform your sets optimally.