Is it possible to disable right click + T, the shortcut for translation? Or is it possible to totally disable the Chrome translation function?
There are Chrome extensions that can add options to the context menus, I've haven't seen ones that remove options (as it's not widely requested).
You could write your own extension that just uses the chrome.ContextMenus API remove method. The method takes an integer or string, so you may have to guess at the title of the Translate option. You could also look at the Chromium source code which I'm sure is similar to Chrome's source and find the title or id there.
You can disable the translate function, but this will not disable the mouse shortcut. From the chrome help: