Yup -- I've done it a few times .. long as you know a bit of c it can be done very easily. It is possible to run pretty much every program in a chroot jail.
I'll look later to see if I still have the .diff I made of my changes.
well, there's 2 ways to do it. first way is to start the bot within a chrooted shell (ie /bin/sh chroots to somewhere first). as long as the bot is compiled statically it should work (though it might need access to a /dev/null and /dev/zero relative to its chroot dir).
the second way is more interesting. it involves you starting the bot as a root process (which means you gotta remove the check that prevents this), then get it to call chroot() and then setuid() so it ain't running as root anymore.
Quick patch to chroot eggdrop -- all you should have to do is edit src/chroot.h properly. Also, you have to setup your /chroot directory with the proper libs and such that eggdrop requires.