Locking down certain drop-down choices

Locking down certain drop-down choices

I'm wondering if it's possible to restrict the ability to select particular items within a drop-down field.  Specifically, I have a field that has a long list of months/years to select from.  I need to keep those old 2008 and 2009 dates, but I'd like to make it so nobody can ever select a past month once that month has passed.