Is it possible to set up a formulas to recognizie a word if it matches a certain percent of another word in a seperate field?

For example: Field 1 Richmond, VA/Field 2 Rchmd VA

If you put a parameter that said if Field 2 > 80% of Field 1 then use Field 1.

Is this possible or have I been watching way too much Sci-Fi?

It is somewhat possible - but you need to specify your need much more precisely. Not in Filemaker terms, but in semantic terms. Read this thread to get some idea of what's involved.

That said, and if I understand you correctly, you can try this calculation:

Let([

flt1 = Filter ( field1 ; field2 );

flt2 = Filter ( field2 ; field1 );

len1 = Length ( field1 );

len2 = Length ( flt1 )

];

Case(

len2 ≥ 65/100 * len1 and Exact ( flt1; flt2 ); field1;

field2

)

)