Would this be against the copyright law?

There's this MOD for Minecraft named Pixelmon, its basically Pokemon in Minecraft.
In the last update they made it so that you can make your own custom map, with custom spawns, and custom trainers.

Me and my friend want to make a exact copy of the original Pokemon Handheld games. Like Kanto, Jotho, Hoenn etc… With the same Pokemon spawning on the same places, the same trainers and everything. We will eventually also sell Bonus stuff in a store, so we will make money of exactly the same "idea" of Gamefreak and Nintendo, but we do it in a different game.

Is this allowed, or would i break the Gamefreak or Nintendo Copyright?

Added (1). OH, i might want to mention that every penny I might make off this will be to keep the server hosted, so there won't be any profits.

That would be 100% copyright infringement. Don't get caught else you'll end up getting slapped with a lawsuit seeking punitive and compensatory damages (as opposed to a cease and desist letter, which is still infringement but is what happens when you do not attempt to profit commercially)