Hi tylertrainman,
Yes, it is possible to add DCC to 3 rail engines, as Sinclair, myself, and others do run DCC engines on 3 rail track. But there are some things to consider:
1. You cannot run conventional engine (engine without a dcc board) on a track connected to a DCC system. If you do this, the motor in the conventional engine will make a high pitched him and eventually die. Therefore, take into account that EVERY engine that you want to run on DCC tracks has to have a DCC board in it.
2. Cost. Consider the costs of converting your Locomotives to either DCC or tmcc.
A. Remote/command station.
TMCC remote/base and powermaster: $100ish. This will allow you to run all of your current engines without modifications.
DCC system: anywhere between $300-700 (at new costs, used can be cheaper) for a powerful enough system to run older engines with AC motors.
In the remote category, TMCC: 1, DCC: 0
B. Electronics for engines.
TMCC motor upgrade kit from 3rd rail: $99. Sound adds another $89. Total = $188.
Digitrax DH465 motor control decoder board (which can run AC motors, see link below: $45. Digitrax add on sound bug for programmable sound: $40. Total = $95. In this case, tmcc 0, DCC 1.
https://www.digitrax.com/tsd/K...s-and-lionel-type-e/
All in all, it just comes down to if you are willing to go all in with DCC, or keep some compatibility with tmcc and pay for it.