Yes. First make sure you've saved anything precious on the partition
where you intend to install W2k. Then either:
1. - boot from the W2k CD and do a normal install (follow instructions
on the screen, or (if you can't boot from the CD)
2. - create the 4 W2k setup diskettes and boot from those with the W2k
CD in the drive.
2a.- To create the 4 diskettes, on any W2k machine (only a W2k machine)
format 4 floppies, then on any Windows machine navigate to the W2k CD's
bootdisk directory and run one of the 2 "makeb..." programs, depending
on whether you're using a 16- or 32-bit OS. Identical diskettes will be
produced either way. Number the resulting diskettes clearly as this
program advises.
The 2 different processes above produce identical W2k installations.
(Since your current machine has only DOS on it, you cannot use floppies
formatted on that machine in the second method above. But with properly
formatted diskettes at hand you can run the "makeboot.exe" program on
your machine. That's the 16-bitter version.)