Can I use an ASP.Net MVC Razor view to generate an nicely formatted HTML Body as the input for an email sent from the server?

If you just need to render the view into a string try something like this:

public string ToHtml(string viewToRender, ViewDataDictionary viewData, ControllerContext controllerContext)
{
    var result = ViewEngines.Engines.FindView(controllerContext, viewToRender, null);

    StringWriter output;
    using (output = new StringWriter())
    {
        var viewContext = new ViewContext(controllerContext, result.View, viewData, controllerContext.Controller.TempData, output);
        result.View.Render(viewContext, output);
        result.ViewEngine.ReleaseView(controllerContext, result.View);
    }

    return output.ToString();
}

You'll need to pass in the name of the view and the ViewData and ControllerContext from your controller action.

You may checkout Postal for using views for sending emails.

Try MvcMailer: http://www.codeproject.com/KB/aspnet/MvcMailerNuGet.aspx