I have started recording live bands doing full sets for live albums, and I would like to know if it's possible to bounce down a show in sections as individual songs (from marker to marker) so I can master them individually, rather than having to do a large, 3-hour, all-in-one dump then try to chop that monster file up later.
Is that possible with X2?

You can bounce or export the tracks you select and what you select in the timeline, but not in one go from marker to marker, each as separate files. You must bounce/export one selection at a time.
 
Sounds to me like you're talking about exporting(?)

I have a relevant video in my signature that shows how I go about it.