Can this mod be done and what do you need?

 

I won't begin to try to understand why, I guess it doesn't matter. The front master cylinder just clamps onto the right Clip-On. It should be as simple as getting one that will clamp to that size, along with the brake lever. Nothing too it I imagine.

 

Why not just stick with the original. I'm sure it will work better

 

What size is the clip-on on the F3 1998? I can buy a master cylinder that came off a 2007 CBR600RR. Will this be a straight bolt on mod?

 

Yep, it'll fit.
Most modern M/C are direct fit.