is it possible to use iptables in order to permit traffic initiated by a "process", ie using the process name? I would like for example to allow everything that is initiated by ping command.
It looks like the owner iptables module is that what you want. First, check if it's available in Your system:
iptables -m owner --help
You can read more here: http://www.frozentux.net/iptables-tutorial/iptables-tutorial.html#OWNERMATCH