Due to a recent vunerability found in 98 that allows for a hacker to take over a system i wouldnt suggest installing 98 on a laptop. M$ themselves have stated that they will not do anything to fix the problem since they are not going to continue to support 98 after July 11, 2007.
What are teh specs of teh laptop you might be able to install 2000. But with the CD drive broken you might just be better off saving your $$ and buying a cheap but decent new one.
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Phone: LG Optimus G Pro
Running: Stock JB from LG with Nova Launcher