Leave the car alone unless you have a butt load of money... Once you start down this path -- you're going to have to have 1000's of dollars to throw at a car like this.
If you think buying a chassis is out of your price range.... Or you don't want to do a front sub frame because of lining up the grill... I'm sorry to be the one that will tell you the HONEST response... LEAVE THE CAR ALONE. Put some decent shocks on it -- maybe add front and rear anti roll bars... Try to find some front coil springs that would stiffen the front but still give you a decent ride (that's all done with math!).
And forget getting into the rust repair! That's a road you don't want to travel unless you are going to be prepared for what you're really going to find when you open that can of worms. If you can SEE rust -- there's way more of it where you can't see.
Do yourself a huge favor and just live with the car for awhile and enjoy it for what it is.... and when you have 50 grand saved up then you can think about doing some minimum modding to it.
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