According to Wiki there 34 B-17s in the Philippines at the start of the war, even 60-68 B-17s could not have "neutralized Japanese air power in Taiwan". Hurt it yes, but not taken it completely out of the fight.
Your scenario also requires different weather conditions than existed. Japanese air attack was delayed around 6 hours because of fog over Taiwan. An early strike by the Americans might have put them over fog shrouded Japanese airbases/targets for a rather ineffective "strike".
Japanese had mustered 541(?) Navy and Army aircraft (some float planes) before allocating some to the Burma attack in the last week of November.
An improved defense of the Philippines required a different command mind set, improved logistics, more satellite bases, and other things in addition to a few dozen more aircraft.