No, Smart Playlists as far as I know, can only be created in iTunes.
I hope this isn't hijacking your thread, but I have a similar Smart Playlist tip. Here's how to make one to show all of your music which is from Apple Music, downloaded or simply added to My Music (your iTunes library).
Yeah, I think there might be RAM issues or something in there. Like you could make a 1,000 song playlist and the device would have a hard time with it. I have had my iPhone freak out just copy and pasting a huge article before anyway...