Is there any way of configuring predefined image sizes that a user can pick from when they add an image through the tiny mce editor?

I know they can enter width and height and I know that a maximum width can be configured, but we'd like to specify just three predefined sizes which are always chosen from.

To demonstrate what we're after, here is a screenshot of what we're trying to achieve (taken from Drupal):

Is something like this possible with Umbraco?

Thanks in advance,

Andy