Is this possible on my MacBook

Sorry for the cryptic subject line but I wasn't sure how to phrase my problem. I have an old iMac that has a broken CD drive. I would like to do a clean install of OS Panther on it. Can I hook up an external firewire drive to my Macbook, restart using the firewire drive as the startup disk and then insert the OS Panther disks and install it. When installation is done, I can then just hook up the external drive that has Panther on it into the iMac and use Carbon Copy Cloner to copy it to the iMac Harddrive. Does that make sense? Is there another way to do it? Can I just copy the install disks onto the external harddrive and do it that way? Thanks.
Thom

You won't be able to startup your Macbook from the external drive with Panther as the OS. You could try connecting your iMac to the Macbook via Target Disc Mode then inserting the Panther CD into the Macbook optical drive and then running the installation with the iMac as the target destination. Actually, (better yet) - put the Macbook into TDMode, connect the two computers via firewire, then startup the iMac with the 'Option' key down. Then insert your Panther CD into the Macbook drive and it should appear (on the iMac) as a bootable option. Maybe. Lol, I could just be confusing myself too.
TDMode link...
http://docs.info.apple.com/article.html?artnum=58583

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