Sort of, except there are rules for the placement of most punctuation. The
effect is that you can, to a certain extent, modulate the reader's breathing or at least keep pace with it.
However, a lot of punctuation such as closely spaced commas and semicolons have little or no effect on a reader's breathing, eg: the commas in the following phrase:
since your voice sounds different, when it begins speaking after a pause, than it does in the middle of an unpunctuated phrase).
- NaomiM
<Added>as daffy says, it's the modulation of the reader's voice which you are controlling, not the breathing - if you find you are gasping for breath when reading overlong sentences then you know it needs more punctuation. At which point it's best to refer to the rules of punctuation placement to see where to put some in.
<Added>....you can't, just place it, anywhere.