Im sure you could make that work but youd probably like a boxed crossmember and tubular control arms for what you intend to do this is the crossmember we used (someone at a swap meet had this for about $80 and we motified those upper spring pockets to be bag mounts as well as the upper control arm mounts)
http://www.fulltiltstreetrods.com/cross_members.htm he also lucked out finding full tilt street rods (on that same website) tuular control arms spindle and brake kit on ebay that some one was selling for like $350 i think and the rack and pinion was a craigs list find for like $120 new unfortunatley hes from japan and left this morning for 3wks to do some work there so I dont have any of the exact info from him as of right now sorry read up theres lots of info this is a common conversion for both hot rods and minis good luck