If I were to do a 338 Whipser FAL I would simply have a custom barrel built in 338 Whisper and use your 308 components.
I am not an expert on the 338 Whisper but I do know that there are two versions of it. One is based on the 221 Fireball case like the 300 Whisper while the second, and the one you are describing, was designed to run in 308 sized magazines and uses most of the 308 base rifle components (bolt face especially).
This sounds like a fun project and the FAL with it's adjustable gas system is a logical choice for such a project in a semiauto even though I would lean towards doing one in a bolt gun myself...
Also, i have seen a few posts asking about the 338 Whisper and if there is enough interest I will start a 338 Whisper forum as well...
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