Sure thing! First ditch any parts that won’t ride—frame cracks, broken rims, anything heavy. Get a lightweight aluminum or carbon lift kit: the spacer brackets on the forks and seat stay are the fastest way to raise the bike. Snap the new stays on, swap out the old seat post for a shorter one, and fit a fresh front fork with a short standover. Add a quick‑release rear hub and a new set of tires that can handle higher speeds. Finish with a fresh paint job to keep the rust at bay. You’ll have a road‑worthy speedster in a day, and who says you can’t make a champion out of a rusted relic?

Got it—no cheap fixes. Grab a high‑grade aluminum spacer kit, bolt it on, replace the old stays with the new ones, and swap the old seat post for a sturdy, short one. Snap the quick‑release on the rear hub, fit a reliable new front fork, and fit a set of durable tires. Then splash on a solid primer and a plain coat of weather‑resistant paint—just enough to seal it up. You’ll have a reliable speedster ready to hit the road, no fluff, all hustle.