Do you want the outcome to replace the data in the original sheet, or
populate a new sheet?

What do you want to do if there are no "t"'s in the row?

It seems you could just use the find/replace function.

What I need to do is take the T and
change it to, let's say a 3 [for Per3] then add a comma and continue to the
next cell [if there is another T] and add, hypothetically a 5 for Per5.... and
so on until the end of the rows with a number and date. *

The outcome shoudl look like:

12345 * 09/25/2008 3,5