Yes, you can estimate velocity using a real world drop. I have a chronograph and do not bother to use it anymore. Save your money for ammo. As long as you know your bc, environmental conditions and zero you can easily use a ballistics program to establish velocity and trajectory. Get a four foot target and Zero your rifle dead on at a hundred, then move back to four hundred aim for the top edge of the target and shoot a group. Measure the drop, put the known factors into a ballistic program and adjust the velocity until it lines up with the drop. Then as always, confirm at longer distances and adjust if need be. I have found this method to be more reliable than chronographs anyway and since you always have to shoot to confirm real trajectory this is two birds with one stone. Basic algebra: using known factors BC & D = to establish V and calculate T. Make sure to check your scope tracking and you should be good to go.