RF will do the job nicely, but don't assume that it will do it quickly or easily. If you have no experience using RF, then trying to execute an important project using it is FOLLY.
What you're facing is exporting your terrain and building geometry from Max via the SceneData Saver into RF, setting up your scene with an appropriate scale and strategically placed particle emitters and daemons (forces), running several test sims to get the water behavior correct, and finally building the water surfaces' mesh geometry (more testing as well) to be imported back into Max via the RF Loader.
All of this also assumes that you have a VERY powerful computer to handle the primary simulation, and access to a renderfarm with the appropriate render management software (Deadline) to "net-mesh" the water surface geometry, and actually handle the scene once you get it back into Max for final output.
FUN STUFF?
Yes, but only after you get your feet wet...
Here are a few frames from a water sim that I did recently...