If you really, Really, REALLY, want to take the time, you can rotate and place each letter/number around the cylinder, but in short, no. No GUI tool that will let you do that.
All is not lost however, as this is something that can be easily done in other software, like Blender. If I needed to do this, I would make my text following a circle path, add thickness, convert to mesh and export to .stl, with minimal meshing. Just enough to have it looking right. Then open that mesh in FreeCAD, and with the Part Workbench go to the P
art menu and use the Create shape from mesh... Then selecting the new shape, use P
art > Convert to solid. Use P
art > Check geometry to make sure your new solid is valid and once confirmed, place it on the Cylinder in the desired location and do your Boolean operation.
If my Blender was not tied up at this very moment rendering an animated title, I would be posting an example. So that will have to wait until later on.
OK - I just re-read your post and it says "along" and not "around". If your wanting along, try this -
File - https://www.dropbox.com/s/kwpcf97079xuuwm/TAC.fcstd
OS: Ubuntu 14.04 LTS
Word size: 64-bit
Version: 0.14.3683 (Git)
Python version: 2.7.6
Qt version: 4.8.6
Coin version: 4.0.0a
SoQt version: 1.6.0a
OCC version: 6.7.1