Yes, and the answer is given on https://wiki.ubuntu.com/WubiGuide:
How do I install Wubi on a machine with no Internet connection?
Wubi also works with physical Ubuntu Desktop Live CDs. Wubi.exe is available in the root folder of the CD.
If you do not have a CD, try to find a computer with Internet access, and download both Wubi.exe and the required Desktop ISO from the same location (the release has to match):
For 12.10 use http://releases.ubuntu.com/quantal/
For 12.04 use http://releases.ubuntu.com/precise/
For 11.10 use http://releases.ubuntu.com/oneiric/
For 10.04 use http://releases.ubuntu.com/lucid/
Copy both files into the same folder on the machine with no Internet access and run the Wubi executable.
So 2 things you need to do:
- download the ISO matching the wubi version;
- put both into the same directory.