yet another key fob question. sorry.

[sprinter199]

hi everyone,
i am hoping for an answer that even i can understand, it may be hard.
i have a 1998 r reg 2.1 turbo estate, diesel that is. i love the car to bits, and its factory glossy black and a glx. thats the good bit over with.
i have only ever had 1 key for the car. the remote on it does not work or the led light up. (i have changed the batteries.)
my car has the triangle type key with 2 buttons and an led.the car does not have a key pad. i have been told that the circuit board in the key is water damaged. i have bought a similar key off fleabay. what i am thinking is ........
can i take the chip out of the key and fix it to the top of the steering lock?
can i program the ebay key to my car and swop the blade over to give me a fully working fob?
then can i get a plain key cut for a spare. ie no remote, no chip?
not had the car long and disconnected the battery on car to try to program the fob. the service book had 2 4 figure numbers. i tried both to re code the stereo, the first did not work, second one did so i chucked first one in the bin!!! maybe the imobiliser code,omg.!!!
are my thoughts a reasonable way of getting a spare key and 1 working fob ok?
please give me your thoughts.....