Yes, I think so. First, the Noah foreshadows Moses. Noah was a righteous man to whom God gave warning that He was going to punish men for their evil by a great flood. Noah and his family are saved by entering an ark which carried them through the flood to survive. Moses was to be killed, along with all other Israelite male babies, so his mother put him in a basket and hid him in the water, from which he was rescued by a daughter of the king, who adopted him. Later, Moses led the faithful children of Israel though the Red Sea when the waters parted to let them pass, while drowning the pursuing Egyptians.
This is why baptism of water is our symbol of entry into God's family. These are lessons of God's love and patience with sinful men, even if they ultimately turn from Him to their destruction. Whether or not there was an actual flood, is immaterial to the point He's telling us, even as it doesn't matter if there was really a Good Samaritan described by Jesus.
The idea of a flood as punishment is an old one, and there were flood stories in Sumeria and Akkad before the story was used in our Bible. Since there were a lot of floods in that area, and since there was at least one of Biblical proportions when the Black Sea was created by the Mediterranean breaking through at the Bosphorus, it very well could have been an actual occurance. Or it could have been a parable. It doesn't matter in the least, which of those is the case.