The 37-2 front sight is integral with the barrel, machined to shape. Removing it will require cutting it off. Replacing it will require a front sight of appropriate height, and a means of attachment (weld, silver solder, dovetail cut, etc). Getting the revolver to shoot to point of aim will almost certainly require some modification to the new front sight. Then you will probably have to do some refinishing on the revolver.
Not a job for the home workshop! I doubt that any gunsmith worth his salt would tackle such a job for much less than $150 or so plus parts. Expensive solution.
Have you considered painting the serrated front sight with a good bright (white, yellow, chartreuse green) enamel? This can aid in sight acquisition, especially in low light situations. The paint will wear a little in the holster, but can be touched up easily enough. Think about trying an inexpensive bottle of ladies' nail polish.
