The second amendment is part of The Bill Of Rigths, the first ten amendments to our constitution. In the U.S. this is a very important document. When I was in the fourth grade we had a framed copy on our classroom wall. One day, our teacher went through it and explained what each right meant. To her it meant she would never have to endure the kind of persecution her ancestors had as Russian Jews. When we got to the second amendment she explained that this was written when our country was a wilder and woolier place, like on the westerns we saw on TV. Doubtful she ever touched a gun.

In the seventh grade the Bill of Rights was in the back of our history book. Once again, our teacher went through it and explained what each amendment meant. Then she told us that NO RIGHT IS ABSOLUTE. The first amendment guarantees religious freedom. But Mormon polygamy is still illegal. It also guarantees free speech, though we do still have libel laws in this country, fairly liberal libel laws, but libel laws.   

So, it is possible to regulate gun ownership. It is doubtful, though it could be done, that we would scrap the second amendment.