Dynamic Multiple Thumnails for posts

I am aware you can have thumbnails automaticaly generated for the featured pic of a post, but what if i need more. what do i mean by that:
automaticaly having 2 thumbnails from a post generated when there are 2 photos assigned and only having one and the space take by the second to be be taken by text when only one photo is assinged. i have done a Photoshop pic for better understanding me:
link

is that possible?