Submerged Roots and Rootrot

From my understanding growing where the roots are always submerged risks rootrot. That rootrot was killing the root by lack of oxygen.

My question is, if you can oxygenate the water enough, can you grow in the previously mentioned situation?

Lack of oxygen can kill the plant by drowning it before it even gets the chance to develop root rot. Yes, if you supply oxygen via bubbling, and keep the water temps cool, you can successfully grow all kinds of plants in that situation. It is commonly known as Deep Water Culture (DWC)

I use peroxide in my system to help with oxygen and bubble wands

My friend you have just re-invented bubbleponics/DWC (Deep Water Culture). Here's the section of the GROWFAQ dedicated to it.

GROWFAQ

Awesome. Thank you gentlemen,