Sandblasting that body will probably damage it beyond repair. With the exception of the front fenders and cowl, you're probably going to find the rest of the body metal is aluminum. It's going to need a much gentler blasting media such as glass beads, baking soda, walnut shells, etc. There's also a blasting method that uses dry ice pellets, which simply evaporates into carbon dioxide gas- - - -no cleanup required!
What engine does it run? I'd expect to see something like a 409 V8 or maybe a 261 6 cylinder, but if it's at least a 1962 model, the 409 would be more likely in a rig that size. A modern engine upgrade that would be an easy swap would be a 454, or possibly the 502 big block that was once available from GM parts departments as a power upgrade for motorhomes.
Jerry