If you are serious about hooking , re-read the above.
As many times as you need to until it sinks in.
Sway bar ?
Not my first choice for a drag car..........unless it is on the rear.
More tire isn't going to fix the basic problems you have now.
I'd strongly suggest tying the sub frames together too , but now we are into cutting territory.
If you don't have the correct motor , trans , rear ............. get to carving.
You aren't going to significantly impact the value as opposed to a numbers matching car.