1) The document discusses converting a 4-stroke engine to a compressed air engine by modifying the camshaft design to allow intake and exhaust valves to open once per revolution of the crankshaft instead of once every two revolutions.
2) Key modifications include changing the camshaft profile to include two additional lobes to control valve timing, and combining the intake and power strokes into one stroke since compressed air would be used instead of an air-fuel mixture.
3) Mathematical calculations are provided to determine the engine's indicated horsepower, brake horsepower, friction horsepower, work done, and torque based on parameters like mean effective pressure, displacement volume, and rpm.