My main rosy red minnow page is at
http://www.fishpondinfo.com/rosies.htmThe breeding section has tips on sexing, sex ratios, caves for the egg laying, egg care, fry care, etc.
In an aquarium, you can certainly get fry. The problem is that you'd need multiple tanks to grow out the minnows until they were the size that you wanted to feed to your carnivorous fish. Rosy reds can breed by 6 months old but most sold as feeders are half that age.
If you have a pond, that's a better bet for growing out larger numbers of rosy reds as they'd have more room to grow. They would have to avoid predators though including any other fish you added, herons, bullfrogs, raccoons, etc. I have a colony of rosy reds in a 153 gallon pond. I do nothing to help or protect the babies, and my colony stays pretty stable with 30 to 60 individuals when I count each March during the cleaning. My point is that the numbers do not go up, in this case, due to predation. If you had an indoor pond, that would be safer for the fry.
In the end, most people decide it's easier and cheaper to just buy the "feeder fish." The main problem (aside from going there and paying for them) is that they are almost always diseased. They can easily give your other fish parasites, bacteria, funguses, etc. through no fault of their own. They are just so poorly taken care of.
How big is your bass and catfish tank? Those fish do best in over 1000 gallons.