Yes, you can definitely do this. And, like "too", it has two potential uses which are closely tied to the immediately proceeding statement:
I also like to live dangerously.
When proceeded by another person saying something similar, like:
John: I like to eat blowfish and drive fast cars.
Mary: I also like to live dangerously.
It means that you share the same traits as the person you're talking with. I will say that this use can sound a bit odd and a native speaker (AmE point of view) would probably be more likely to use the "too" form... but that doesn't make it ungrammatical.
When proceeded by another trait you have:
Mary: I like to study English and write poetry but don't think I'm not exciting. I also like to live dangerously.
It means that you have multiple traits. Personally, with this use, I would prefer the "also" form over "too".
That being said, I'm not sure that "staying up until after 3 AM" is "living dangerously". For me, it's just normal.