Can I use Cisco ASA's "NetFlow Security Event Logging" (NetFlow 9) for bandwidth monitoring

Security Event Logging is something different to what you're after. I believe you want straight NetFlow (v5 will do) - exported to some type of analyzer.

I've used, and can recommend, ManageEngine Netflow Analyzer: http://www.manageengine.com/products/netflow/download-free.html

Grab the free edition, and fire this up on a server somewhere. Make sure the server's firewall permits traffic on port 9996 (UDP). Then, use the following config on your ASA to export network flow data:

flow-export destination outside_interface_name <netflow analyzer IP> 9996
flow-export template timeout-rate 1
flow-export delay flow-create 10

access-list netflow-export extended permit ip any any

class-map netflow-export-class
 match access-list netflow-export

policy-map global_policy
 class netflow-export-class
  flow-export event-type all destination <netflow analyzer IP>

Note that in my example, I have assumed you have a global_policy policy-map defined.

Browse to Netflow Analyzer and log in. Netflow analyzer will break down the ASA output into source/destination connections, including traffic in megabytes per connection, and will even perform port analysis to show you the applications in use.

This makes it particularly easy to see when an employee is torrenting for instance. :-)