Don't weld them. Welding it is not the way to go at all. You WILL see it down the road. If you were to do something like that, extend the inner lip up and bolt it to that like most other cars and trucks used.
I personally used bolts with rivit heads (you can make them, I got mine from an old Gym locker) and it works like a charm. Mine have not shown one speck of rust, and it was twenty five years ago I replace the rivits.
Brian