You can use it that way, but there is a chance of misunderstanding. While the two phrases seam to mean the same thing, there is a cultural difference that is somewhat subtle.
"Are you hearing me?" is used many times to convey the message "Are you truly listening and trying to understand what I am saying?" This is the difference between just hearing something and listening for understanding.
Mom: "You have to bring up your grades and do your homework!"
Son: "Yeah, Mom...I hear you."
"Mom: "Are you really hearing me?"