Yep, you can rig that up in a number of ways. Essentially what you are looking for is a flow switch setup. There are a lot of ways to do this, here are two: You can use an actual flow switch (kind of pricey), or you can use a pressure switch with an orifice or other restriction. You set your pressure switch or flow switch so that it will close a set of contacts when the flow or pressure gets too low. When the contacts close they trigger the event that cures the problem, i.e. close a valve, start a pump, or whatever. You will probably need to have some relays, solenoids, or motor starters in the mix.
There are ton of flow and pressure switches out there. Do a search on the web, or if you have a buyers guide start there. I'm sure that there are even a few in Graingers. Good luck.