Water is pretty good at absorbing smells. It explains why water tastes so bad after it's been in your room a day or a few hours and gets that house funk going in it.
My opinion, you could do it if you had a fume hood of sorts that pulls air forcefully outside, like a vortech pointed out the window and you're working directly in front of the vortech. The issue is with an airbrush then that air gets pulled too.
Imo no you could not but if I was forced into a situation where my mental disability made me make that decision to have both, I'd do the vortech, seal the top of my tank off completely, wear a n95 mask or mask that could filter all smells, work on a project for about 5 minutes, shut everything down, clean it, and then remove the mask.
If you can still smell the project with it sitting on the desk, and you over by the tank at that point, I'd reconcile my investment in the reef tank, consider it a loss, and take up airbrushing. It's a cheaper hobby and people are actually willing to buy airbrushed things or pay for airbrushing, whereas coral does not.
I'd sell the tank to recover the cost involved with the airbrush setup and be happy knowing I don't have to manage two things.
Then once airbrushing can pay for a house buy a house and a airbrush booth and you can have both again.
