You most certainly can. The way to avoid alerts from being triggered is by creating an "Incident Downtime". In the Incidents dashlet click the icon on the top right to open the downtimes pane as shown below:
Right-click on the Downtimes pane and select the option to "Create Downtime", select System Profiles you wish to target, select a schedule for when the downtime will take place (in case it's recurring select the corresponding option in the recurrence section), and voilà. Any incidents triggered during the downtime window will be suppressed.
Hope this helps!
We are on AppMon 7.0 and the right click, delete of a scheduled downtime did not remove it or change its status. At this point, the 'deleted' downtime cannot be edited and it still shows 'scheduled'. The question is whether it will still run at its scheduled time or did it simply not clear out when deleted. I'm leaning toward the latter because the schedule cannot be changed. I changed the schedule of another downtime without any problems.