It may be possible, but you may have to take off winXP which would save alot of bother when it comes to partitioning the HD.

If you do this on a clean Hard drive, install Win 98 first on to a partition with about 2-8GB size(it's up to u). Then install XP on a partition that takes up the rest on the space.

I did a similar thing except for with 3 OSes (DOS, Linux and WinXP)