"Is there anyway I can use the option file in PES3 to do the same?"
No, the option files in each series WE and PES are in different formats. There are a few Option File Editors available and some can convert one to the other - but that can create it's own problems e.g. WEOptEditor v.1.27 corrupts the kit details somehow, and the only fix is to then copy All kits from a WE7i file that is already working - there are a few of those around.
You may be better off buying an Xport, I'm sure a basic option file will be created soon to cover name translation and possibly some of the transfers that went through after the game went into production.
Go for an X-port, it's the simpler option, and you'll still be getting value from it when it comes to future versions of the game - PES4, WE8i, etc.