Highly unlikely! However, I looked up a somewhat old article which included games up to Arsenal's 1-3 defeat to Monaco in February 2015. At this point, in the European Cup, there had been 281 instances where a team won the first leg and only 6 times in those games did a team go on to reverse the deficit and go through. The only time a 2 goal deficit was reversed according to the article was in the 1970's where Benfica managed to win the second leg against Ajax 3-1, after Ajax already got the same result in the first leg (Benfica went on to win in Extra Time).
I am a bit sceptical of the information though, as we seem to be the only team to overturn an exact scoreline of 2-0 in the first leg, which was under David Moyes when we lost away to Olympiakos 2-0, before a Robin van Persie hat-trick gave us the 3-0 home victory we needed to go through. (This wasn't in that article for some reason, even though I'm sure it happened before that Arsenal-Monaco tie).
So, we've done it before... But I still think we'll go out. For what it's worth though, I don't think we will lose this match.