Truncate Company Name Field based on characters and spacing

Need a simple quick project done. I have a table with a column [Company] with 2500 records. I want to make a temp table with all of the 2500 companies with another field called [CoShort] with a truncated version of their name with the following rules in order. IF 1. ) the company name has 3 or more words in the name I want the first 3 letters of each 3 words for 9 total characters. ex: Steve's Ice Cream and Donuts = STEICECRE Fishing and Tackle Suppliers Inc. = FISANDSUP 3M Tape Company = 3MTAPCOM ELSE IF 2.) the company name only has 2 words in the name I want the first 4 letters from both words for 8 total characters. ex: Todd's Welding = TODDWELD New Directions = NEWDIRE (notice this is only 7, which is OK) Kingston Technologies = KINGTECH ELSE IF 3.) the company name only has 1 word in the name then I want the first 4 letters from the word and then "TEMP" appended to the end for 8 total characters. ex: Sears = SEARTEMP Amazon = AMAZTEMP Selfies = SELFTEMP Art = ARTTEMP END NO SPACES & NO SPECIAL CHARACTERS allowed ALPHA & NUMBER based characters only.