Yes should be doable by using server:port in the configuration file. You should create a case at your support provider / tech support to have an official document.
during the installation can we add other port as 1555, we have tried to add <IP Address>:1555 with no success
I am not sure this was tested.
Could you create an .udl file on BCM Master system then , in connection tab, enter information to connect to your SQL Server : if connection is successful then BCM must be able to connect to your SQL Server.