Crazy idea for 318

Starting with the car itself, you'll need to reduce the weight considerably. Shoot for a weight @ or under 2800 and get the car to a 50/50 weight split at worst. More weight on the rear is preferred.

Move the springs (S/S or Cal-Tracs) into the frame for the widest tire possible. The 8-3/4 should house 5.13 gears. The driveshaft should be as light as possible. The K-frame should be lightened as much as possible or replaced with a tube K-frame. Fiberglass components should be used as well as lexan replacing the glass. Gutted interior.
http://www.hotrod.com/howto/113_0310_weight_reduction/viewall.html

On the engine, only a full race machining working over block on every edge will do. Oil pump and passages need mods.
I would look for a 11-1 min. compression ratio. Mopars .590 mechanical cam. A set of very well ported Brodix heads. 1-7/8 headers. An 850 carb up top a single plane intake.