No it isn't going to heal if you continue to train it. I suggest you stay off your elbow for 4 weeks and get yourself into some physiotherapy. If you get on it and rehab it, chances are it'll heal before you are done your cycle. Just focus on bringing up other bodyparts instead, like legs, bicepts shoulders e.t.c.
Naturally you will want to lift heavier, and this is just going to exasperate the situation and turn the injury chronic. Avoid this like the plague.
you can also abort the cycle now and wait for your elbow to heal.
The reason why I say this, is because this happened to me on my very first cycle, and I continued to train and lift heavy. I ended up needing surgery, which really fucked up my training for years - i.e my tricepts got behind in development.
If you do a search you'll also find pictures of me after I lost about 30 lbs following the surgery. What a sick, sad sight that was!
Unless you are on some AAS surgery just melts the muscles right off you bones! - especially if they were aas asisted.
Anyways that's lessons learned the hard way via Prisoner#22!