If I understood the question correctly, Aspell cannot do exactly what you want (as far as I know). This is due to the conditional complex word treatment found on the Aspells TODO list .
The same list mentions that Hunspell works better with compound words, so it can be a viable alternative if you're not attached to Aspell. OpenOffice uses Hunspell to check spelling, so it's easy to see if it matches your requirements. It’s at least at least, it works for the “cluod-based” example and DOES NOT consider all hyphenated words as unconditional connections, that is, “cloud-based” will not be considered a spelling error.
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