Is measuring liquids possible with Augmented Reality?
For Example; A Glass of wine or a gallon of water.
Have you searched this before asking your question? Looks like people have written articles about this subject matter. Read these two links:
http://www.icg.tugraz.at/publications/pdf/SpatialMeasurements
http://proceedings.asmedigitalcollection.asme.org/proceeding.aspx?articleid=1830279
I don't know so much in detail about augmented reality, but I suppose you can do that at least for known liquids like water, milk, etc. where we know the density and can do further calculations based on that, to measure volumes.