Definitely do!

I start the roast at a high temperature (450F) to brown, then drop to 225-250F for the rest of the roasting period.

Remember to take your roast out aprox 5 degrees below your desired internal temperature. It continues to cook as it rests.

As for the jus, I cheat. I start scooping drippings a half hour before the roast is done to add to beef stock and start reducing so that I have a good strong jus by the time I carve.

Give a quick google, there are no shortage of instructions for good prime rib au jus. Just resist the temptation to try to cook it any faster/hotter.