In order for a master crafter to create a blueprint all they need to do is figure out what they want to do and request it. This is done using this form. This will go directly to the plot team and gives us all the information we need.
Once you submit it the plot team will work out what resources that will cost and let you know. Then if you decide to pursue it you can make that blueprint at the event using the Master Lab. This lab is a series of mini-games that will cost components to use. Sometimes there is waste when trying to make something new. The more powerful an item is the more resources it cost, the more resources it cost the more that has to be spent on the mini-games. It will, at the minimum, cost the same amount as it does to make the item.
Please note, you can ONLY do research one blueprint/recipe per event.