It can per the 10th amendment if that federal law is not constitutional, as in not "made in Pursuance thereof" of the constitution (supremacy clause). Last I checked there was nothing in the constitution that gave Congress the power to regulate intrastate commerce, of which a domestic gunmaking industry would be.
Ooooh the fabled 10th amendment of lore able to leap tall buildings at a single bound. There are not 50 interpretations of the constitutions which are valid for legal proceedings or which determine what is or is not "made in Pursuance thereof" and if you believe a corporation can guarantee that is products cannot leave the state of their production then you are a bigger fool than I thought.
States have no legal authority over the Federal government and never did.