New to the Mustang world

I've been in the Land Rover & Jeep world for the last 20 years, so I'll be asking a lot of questions. I just picked up a 1980 notch back roller w/plans to build a fun autocrosser. I can't go to wild because I want to drive the car to events, and just enjoy it as well. It's a pretty solid shell, but it needs everything. The original K member is who knows where, but it did come w/a loose front suspension setup (year unknown). I've also purchased '95 GT spindles and the rear 8.8.

1 - I need to determine if the K member I have will accept a V8 (302 or 351 IDK). The car was originally a 2.3 manual
2- Shocks, springs, brakes, wheels, & tires
3- Engine

This will be a SLOW build as money is available, so I want to be careful buying parts. Thanks for any/all guidance/links.
 
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