If your Mandrake 9.2 Install CD's image is anything like my Mandrake 9.0 Install CD, I suggest the following might work:
(1) copy the entire ISO image into a read-write space where you can edit it. Let iso:/ refer to your entire ISO image.
(2) iso:/isolinux should be a directory that contains some bootup messages and subdirectories that contain the kernel file images. In my case, the file advanced.msg told me what subdirectories contained which kernel images, of which only one was usable (the others were trials).
(3) compile your new kernel and put it in the file(s) of the kernel images that you don't need, keeping the file names the same so that the install process will connect to your new kernel as it would have to the old one that you are replacing. This is where it gets tricky. In my case, there are 2 files in each kernel image subdirectory and if I were to recompile (which I haven't done) and get only one file, which file is that supposed to replace and what is supposed to happen to the other file? Then again, your google search might yield documentation that you allow you to negotiate this step without any problems. You might also try www.mandrakeexpert.com
for answers also, with the understanding that they typically take a long time to answer if they answer at all.
(4) burn your edited ISO image to a new CDR disk and install using that disk, being sure to select your new kernel for the install.