Alternator

So I just got off the phone with a pick a part clerk, he told me that you can convert a 3 wire alternator to a 1 wire alternator thus making the need to purchase a 1 wire version. Has anyone done this? what is necessary to do it? Was it cost effective? I have a good 3 wire and need a 1 wire for the race car that we are building. The cheapest I can find a 1 wire for is about 60.00 + 15.00 core charge.