raspistill can be used to shoot a timelapse:
# Shoot a photo every 10 seconds
/usr/bin/raspistill -tl 10
See the raspistill help output:
You can get fancy by specifying other options to the raspistill command, or specify a different location for the files, whatever, but this should get you started.
Once you have the files, you can then use avconv to assemble the images into a timelapse video. I've done this a couple times but not frequently enough that I remember the options, but a quick google search will net you what you need to know there.
So basically, through octoprint, not really (that I know of) but it's reasonably easy to do manually.
I've seen a bunch of guides online on other options for shooting time lapse videos on the raspi, so you could use any of those. If you had a USB webcam, fswebcam can be set to automatically capture images with a set interval.