A dense nutritious food like New Life Spectrum Cichlid Formula pellets allows you to feed less food, but not necessarily less frequently than daily (with 1X weekly fasting day). Is that what you meant?
I use NLS- still have to feed once a day most of the time, but a few pellets go a long way. You'll have less fish poo from foods that don't have a lot of grain (corn, wheat, soy) or blood in them. Look for fish or krill as the first ingredient, and most all other ingredients shouldn't be from things grown on land.
It's not healthy or helpful to the fish to overfeed one meal and then skip the next. However, many cichlids can easily go days without eating if you're gone for a weekend, for example.