Okay, with a little help from someone in #fedora I was able to get a little further. He suggested I reinstall my kernel-source rpms and then do a make distclean; cp -a configs/kernel-2.4.22-i686.config .config ; make oldconfig ; make dep
This fixed the error that I reported above and running the command CC="gcc32" sh NVIDIA-Linux-x86-1.0-5328-pkg1.run --add-this-kernel successfully build a custom-run file without error.
However, now, when I try installing CC="gcc32" sh NVIDIA-Linux-x86-1.0-5328-pkg1-custom.run
I now get the following error:
-> Kernel module load error: ./usr/src/nv/nvidia.o: kernel-module version
./usr/src/nv/nvidia.o was compiled for kernel version
while this kernel is version 2.4.22-1.2135.nptl.
If anyone knows how to fix this, please advice!