That is a 22,000µF capacitor. Since you're running without lights on lucky, you can also probably get away without running a battery. The capacitor stores voltage between cycles of the alternator so that everything can stay running. Your bike will be running solely from the alternator, so no electric start, and possibly no bump start, either.
Whether or not it works will depend a lot on the health of your charging system, which is why I included the R/R as well. The Sparck Moto R/R has lower internal resistance than most R/Rs on the market, and so your bike will be producing usable wattage lower in the RPM range than many other models of R/R will provide.
Some wiring changes will likely need to be made to accommodate the cap, but I'm optimistic. The red wire to the the ignition and the rectifier will be the ones to plug into the cap (same wires that would have gone to the battery) and the black wire from the cap can be bolted to some bare metal to act as the negative terminal.
Capacitors (especially big ones like this) can store enough power to kill someone and they can take quite a while to bleed down after use, so be careful. If you need to work in and around the cap after the bike has been run, discharge it by touching the positive and negative terminals together. You can also wire in a discharge circuit to make that task easier.
To test it out, wire it into place where the battery used to go and give the bike a couple of kicks with the ignition switch off. Then turn the key on (with the kill switch set to 'run') and kick it over. Hopefully Lucky will start right up and rev freely.