I would like to have a page in the central admin that allows administrators to configure a few values for the my timer job. Is there a way that I can do this?
Absolutely, I have done this myself very recently.
You can create an Application Page that sits in the ADMIN directory in the SharePoint Root Folder. You need to add a mapped folder in Visual Studio to do this.
You can then create a Custom Action which will add a link to your application page, within any area and section within Central Administration that you wish.
Here is the tutorial I followed on MSDN for this: http://msdn.microsoft.com/en-us/library/ff798467.aspx
Also, the full reference implementation for a timer job with a config page: http://msdn.microsoft.com/en-us/library/ff798362.aspx