The next steps show how to tramsform an rusted old bike into 71 inches of pure metal madness ... the oldschool way. Have fun :)
Step 1: Get rid of the useless parts
Cut the attaching points for the front breaks you don't need anymore. Buy new parts, such as a new crank set to replace the old broken one. clean the roller bairings in case you have to wait for the new parts ;)
Make a big pile of the old stuff just in case you can reuse some of it..